Monthly Archives: June 2015



Global Sources (GSOL) – Odd Lot Tender Offer – 10% guaranteed upside

As expected, GSOL has included odd lot provision in their tender offer. Updated details below”

Current Price – $6.81;

Offer Price – $7.5;

Upside – $68 or 10%;

Expiration date –  27 July, 2015;

SEC Filling

Summary:

Global Sources Ltd. (NASDAQ: GSOL) intends to commence an issuer tender offer by the end of June 2015, with expected completion before the end of July 2015, for up to 6,666,666 shares, or approximately 22.05% of its outstanding common shares as of April 30,



Danaher (DHR) – Split off Transaction – $635 upside

Danaher has updated the split off offer by increasing the upper limit and the situation became profitable one more time.

Current Price – DHR $85.44, NTCT $38.42

Offer Price – $107.53 stock of NTCT for $100 stock of DHR (subject to upper limit)

Upside – 7.5% or $636 for Odd Lot holders

Expiration date – July 9, 2015



Global Sources (GSOL) – Tender Offer with likely Odd Lot provision – 8% potential

Current Price – $6.96

Offer Price – $7.5

Upside – $53 or 8%

Expiration date –  TBD

There is no info yet whether there will be odd lot provisions, but previous GSOL tenders in (2010 and 2014) had odd lot provisions.

SEC Filling

Summary:

Global Sources Ltd. (NASDAQ: GSOL) intends to commence an issuer tender offer by the end of June 2015, with expected completion before the end of July 2015, for up to 6,666,666 shares, or approximately 22.05% of its



Alpha & Omega Semiconductor (AOSL) – Odd Lot Tender Offer – 4% potential

Current Price – $8.83

Offer Price – $8.5 – $9.2

Upside – $37 or 4% (if the upper pricing limit is used)

Expiration date –  7 July 2015

No proration for odd lot holders

SEC Filling

Summary:

We are conducting an offer by means of a procedure commonly called a “modified Dutch auction.” Upon the terms and subject to the conditions of the Offer, we are offering to purchase for cash our common shares, pursuant to (i) Auction Tenders at



Wendy’s (WEN) – Odd Lot Tender Offer – $100 potential upside

Current Price – $11.27

Offer Price – $11.05 – $12.25

Upside – $97 or 9% (if the upper pricing limit is used)

Expiration date –  30 June 2015

SEC Filling

Summary:

Wendy’s Company is offering to purchase for cash shares of its common stock, par value $0.10 per share, pursuant to auction tenders at prices specified by the tendering stockholders of not less than $11.05 nor greater than $12.25 per share. Assuming that the Offer is fully subscribed, if the Purchase Price



Copart (CPRT) – Odd Lot Tender Offer – minimal upside at the moment

Current Price – $35.75

Offer Price – $34.75 – $36

Upside – minimal potential upside currently

Expiration date –  6 July 2015

SEC Filling

Summary:

Copart, Inc., a Delaware corporation, is offering to purchase up to 13,888,888 shares of our common stock, $0.0001 par value, at a purchase price not greater than $36.00 nor less than $34.75 per share. We will purchase up to 13,888,888 shares in the Offer (representing approximately 11.0% of our outstanding shares as of June 3, 2015), or if



Global Net Lease (GNL) – Odd Lot Tender Offer – $120 guaranteed return

Current Price – $9.27

Offer Price – $10.5

Upside – 13% or $122

Expiration date –  29 June 2015

SEC Filling

Summary:

Global Net Lease, Inc, invites our stockholders to tender up to 11,904,761 shares of our common stock, par value $0.01 per share, for purchase by us at a price of $10.50 per Share. If the Offer is fully subscribed, we will purchase 11,904,761 Shares, which will represent approximately 6.3% of the issued and outstanding Shares as of immediately after the