Thursday, July 22, 2010

Hardinge + Romi = NO Deal

So the Hardinge play didn’t work out. Last Thursday, Romi walked away from the deal and Romi stock price settled back down in the ~ $8.00 level with a market cap of around ~ $90 million. The company has around $20 million in cash so any additional downside will be limited. The company will report Q2 earnings on August 6th so I’ll wait until their earnings report to decide what to do next. They better do something to make peace with their shareholders for walking away from the Romi deal.


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