May. 11 at 1:47 PM
$DDI
DDI is my newest Special Situation Stock that I have high hopes for FAST AND HUGE PROFITS !!! ....
A LOW-BALL offer of
$11.25 was made by the company that controls 67.05% of the shares ... by Korean rules, they need 95% of ALL shareholders to vote yes, to be able to take total control and de-list the stock. That works out to needing a YES from 84.8% of the MINORITY 32.95% of shareholders (us) !!!
Q1 earnings will be out on Tuesday, and I expect they will have at least
$520 Million in cash on hand (with almost no debt) and with 49.55 mil shrs outstanding, that works out to
$10.49 CASH/shr ... with full year earnings to be
$2.25-
$2.50 !!!! .... indeed a LOW-BALL offer at
$11.25, and one of their largest institutional holder is already crying foul and wants more !!!! ....
They WILL NOT be able to do this deal -- and take control of all that cash, which is what they want -- for anything less than
$15-
$20 IMO, and I soon expect the Special Committee to push them towards that number !!!!
