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In a filing with the , MathStat (Pink Sheets: MATH), a Hillsboro-based fabless semiconductor companhy that has been shut down for more than a saidthe $1.28 per share merger offef from building performance software maker is less than the company’a value if it were to liquidate. MathStar has estimatedr its liquidation valueat $1.40 per share. But PureChoicer CEO Bryan Reichel — in his fourtgh attempt to buy thecompany — argued last montn the value would be closee to $1.25 per share after accountingt for a liquidation process that could eat up three yearw and $2 million. It’sd the second tender offer rejected by MathStard ina week.
Last week, the company’s board recommendex that shareholders reject a tender offe made last monthby LLC, which wantefd to buy 51 percent of the companyu for $1.15 per share. In an SEC filing, MathStar said it was mulliny twobetter options: a potential merger with an unidentified privat company, and restarting operations thanksx to an opportunity to acquire a new videpo technology similar to one previouslh created by MathStar. Meanwhile, several shareholders have urgexd MathStarto liquidate. A vote on the liquidationm is scheduled atthe company’s annual shareholderas meeting July 10 in Minneapolis. MathStar sharew closed at $1.17 Friday.
They have a 52-weekj range between 63 cents and
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