Hi Bobcat,
My guess is that he got it at the time of the IPO, but I really
don't know.
Axsys' subsidiaries have been passed around by venture cap
groups many times over the past five years. I imagine that most
of the higher-ups are interested in turning a quick profit and
dumping the company. I wonder how this influenced their
perspectives on what the company should be doing. Maybe they
put too much emphasis on producing equipment for semiconductor
capitol equipment makers.
The problem with somebody else jumping in to take over the company
is that the Axsys conglomerate is all over the place. They are
experts in: motion control, electrical connectors, beryllium
optics, precision optics and machining, etc. Well, what company
is interested in all that? I can't think of any single company
which would want all those businesses. It seems that any possible
suitor (other than a pure venture cap. group) would want to
spin out some of those business units. That's a hassle. So,
a possible suitor would probably want only one or two parts
of the company, requiring that those parts be valued quite
highly.
I think that the best hope for this stock is that the board
asks for a higher bid ($15-20), or that the business cycle
improves.
Just as a disclosure, I own the stock at $10 and at $17, so
I'll do fairly well in any case.
Don |
