USRX ANNUAL MEETING AND 3COM Q's
David and To all,
I was also at the USRX shareholder meeting and I was surprised that there was not more shareholder out cry against the merger or why there was basically no premium placed on the merger price. Just people thanking him for the company and its products. Don't get me wrong, but there was no premium placed on the company's stock and my question is why!
Behind the this is great for the long-term cheer, which I would tend to agree with, why in the near term was this deal made? I have two points:
1. Why announce this just after the shipping of x2? The announcement basically killed off any real significant impact (stockwise). I am sure 3Com is quite happy because it will not have to pay as much, whereas if USRX is higher then the merger might have to be 2.5 to 1 or such.
2. Why the lack of premium? The deal is tied to 3COM stock, why? This is seems odd and makes me wonder about the company. Is the rumblings that after x2 USRX alone doesn't have much in the pipeline? Of course it seems like they do, but in reality is this true? Is the competition from MOT/ROK worrying them more than they lead on? The jist is why the 1.75 to 1 and why tie it to 3COM stock.
I have to ask am I the only one thinking this. Granted I have not had the time to read many of the responses, but what do most of you feel?
Thanks,
Scott |
