OracleofCarolina Posted April 18, 2011 Share Posted April 18, 2011 Well Biglari did not get them, FMMH to be acquired for 36.15 a share by Auto Club Insurance association Link to comment Share on other sites More sharing options...
Guest Bronco Posted April 18, 2011 Share Posted April 18, 2011 Good deal for shareholders. Board actually did good and I was wrong on this. Link to comment Share on other sites More sharing options...
elltel Posted April 18, 2011 Share Posted April 18, 2011 Sardar Biglari, Chairman and CEO of Biglari Holdings Inc., holder of approximately 9.7% of the stock of Fremont, voiced support for the transaction, saying "I have enjoyed working with Fremont's Chairman of the Special Committee in our effort to realize the full value of Fremont's shares. The merger with ACIA represents a victory for all Fremont stockholders. We applaud the Committee's efforts." Link to comment Share on other sites More sharing options...
S2S Posted April 18, 2011 Share Posted April 18, 2011 As long as a company is "in play", someone will see good enough reasons (cheap credit + any combination of synergies, off-shoring, levering up, slashing R&D, margin expansion, tax arbitrage etc.) to pony up for it. Barbarians at the Gate, anyone? ;D Link to comment Share on other sites More sharing options...
Ballinvarosig Investors Posted April 18, 2011 Share Posted April 18, 2011 Congratulations to shareholders! I wonder where Biglari will be focusing his attention now to get an entry into the insurance market - PMIC? Link to comment Share on other sites More sharing options...
omagh Posted April 18, 2011 Share Posted April 18, 2011 It looks like the initial offer, subsequent offer and the personal pressure on Fremont's CEO (i.e. you'll be fired if BH buys you) were tactics to extract value in the alternate scenario. These efforts were enough to put FMMH into play. So, Plan A didn't work out, but Plan B did. Cold and calculating efforts by Biglari. -O Sardar Biglari, Chairman and CEO of Biglari Holdings Inc., holder of approximately 9.7% of the stock of Fremont, voiced support for the transaction, saying "I have enjoyed working with Fremont's Chairman of the Special Committee in our effort to realize the full value of Fremont's shares. The merger with ACIA represents a victory for all Fremont stockholders. We applaud the Committee's efforts." Link to comment Share on other sites More sharing options...
gfp Posted May 2, 2011 Share Posted May 2, 2011 Congratulations to shareholders! I wonder where Biglari will be focusing his attention now to get an entry into the insurance market - PMIC? It certainly looks that way: http://www.sec.gov/Archives/edgar/data/1334426/000092189511000896/sc13d07428007_04292011.htm Link to comment Share on other sites More sharing options...
Frozen Tundra Posted May 5, 2011 Share Posted May 5, 2011 Looks like someone named Bradley Louis Radoff just acquired 5.0% of PMIC as well. Anyone know this guy or his affiliation? Link to comment Share on other sites More sharing options...
Ballinvarosig Investors Posted May 5, 2011 Share Posted May 5, 2011 Congratulations to shareholders! I wonder where Biglari will be focusing his attention now to get an entry into the insurance market - PMIC? It certainly looks that way: http://www.sec.gov/Archives/edgar/data/1334426/000092189511000896/sc13d07428007_04292011.htm When you're good, you're good :D There is no way Biglari is going to get PMIC for less than book, so I am going to hang onto my shares. Link to comment Share on other sites More sharing options...
gfp Posted May 5, 2011 Share Posted May 5, 2011 Looks like someone named Bradley Louis Radoff just acquired 5.0% of PMIC as well. Anyone know this guy or his affiliation? He used to work for Third Point, a very successful hedge fund run by Dan Loeb. (actually worked there for two separate stretches) I think he runs Fondren Capital now. You can find information on him by google-ing "Brad Radoff" Link to comment Share on other sites More sharing options...
Guest Bronco Posted May 6, 2011 Share Posted May 6, 2011 PMIC on fire. Wonder who's buying? Link to comment Share on other sites More sharing options...
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