Author Topic: AVX - AVX Corp  (Read 525 times)

ValueMaven

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AVX - AVX Corp
« on: November 30, 2019, 05:48:06 PM »
Extremely interesting situation here.  Company is 72% owned by a Japanese conglomerate – which just bid for the remaining 26% of the company that it doesn’t own late last week.  Semper Augustus lays out an extremely interesting case for the company.

FYI: I know nothing about AVX, but found the letter extremely interesting.  Not sure how this plays out – as you wonder how management could ever block such a deal? 

With $750M of cash on the balance-sheet, no debt, and an extremely decent earnings power – basically its costing this Japanese company an extremely low valuation multiple to acquire the rest of the company.  My guess – they bid higher of the company weeks.   



ValueMaven

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Re: AVX - AVX Corp
« Reply #1 on: November 30, 2019, 05:50:15 PM »
Basically looks like shareholders have ZERO say in this matter - and that this special committee gets to manage the whole process.  I guess shareholders have to proactively reach out to management to try and reject this.  Not sure how this plays out.  Even on AVX's website it says 'Kyocera Company'

DW1234

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Re: AVX - AVX Corp
« Reply #2 on: December 02, 2019, 11:35:38 PM »
This will be interesting to follow. It seems your guess is also partly the market's guess because it's trading higher than $19.5 currently.