One final follow up on AUTO. Wanted to highlight yesterday’s 13G by Rangeley Capital, as well as this article by the managing member of the firm. Rangeley owns ~10% of AUTO’s shares. That means the ownership of the stock breaks out as follows
- Insiders (26.5%)
- Kinderhook (18.3%)
- James Martin (16.4%)
- Rangeley (10.5%)
- Pater Kamin (5.3%)
- Whopper (0.005%)
Ok, maybe I don’t belong on the list. But the fact remains that this vote is not a done deal. If the big holders have a problem with the deal price and band together, they can force management to pony up more cash or sink this deal.
Either way, this gets more interesting by the day.
Disclosure: Long AUTO
Bringing you the content on this site involves a significant amount of time and effort. If you like my work, please support my site by shopping at amazon.com! Doing so costs you nothing (the prices are the same as if you went to amazon directly) but results in referral fees for me that I use to support my site.
The content contained in this blog represents only the opinions of its author(s). I may hold long or short positions in securities mentioned in the blog. In no way should anything on this website be considered investment advice and should never be relied on in making an investment decision. Read that last line again. Also, this blog is not a solicitation of business. The content herein is intended solely for the entertainment of the reader and the author(s).