Thanks
Geoff
Edenbrook wants more money, and is using its 'debt bomb' thesis to try and extract more from the company, arguing that ABST's calculation of its debt risk is wrong, so that the company is worth more as debt risk is overstated. But, ABST continues to trade below the Crosspoint bid. The meeting is June 29 and we imagine there will be more volleys fired by both parties before then. But, so far no other offer has materialized and ABST is standing pat. We would expect ABST to proceed, and simply see how many shares are tendered to the offer. It will then simply just extend the offer. It is certainly possible that Crosspoint throws out a peace offering of 50c more or so, but as of today we think Crosspoint is still in charge of this fight.