Saturday, 23 August 2014
Last updated 23 hours ago
Mar 24 2008 | 10:59am ET
Obrem Capital Management thinks a circuit has burned out at microchip manufacturer Micrel. And it has the solution: Sell.
The New York hedge fund earlier this month sent a letter to Micrel management, chastising it for “a poorly-developed outsourcing strategy” and “bloated cost structure.” The firm, which owns 9.6% of San Jose, Calif.-based Micrel, has asked to meet with the company’s board of directors, but it has already reached its conclusion: “the Board would maximize value for Micrel’s shareholders by selling the company to a strategic buyer,” namely a larger semiconductor company.
According to Obrem—which demands at a minimum that the company set up a special committee to investigate strategic alternatives—current management will be unable to boost sales or improve Micrel’s cost structure.
Aug 4 2014 | 7:42am ET
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The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note