Uniden (6815) MBO - Cornwall Tests Market Norms By Launching a Low-Premium MBO

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443 Views, 24 Jun 2022 01:35

EXECUTIVE SUMMARY

Uniden Holdings (6815 JP) is a ubiquitous manufacturer in its niche field of CBs, scanners, radar detectors, and marine radios. It used to be famous for cordless phones.
That was then. Manufacturing revenues dropped 90% in 20yrs, there were some weird related party transactions, an accounting scandal, and now the company is fixing itself.
And now value fund Cornwall Capital has launched an MBO at a [checks notes] 2.5% premium to last trade. This is going to be interesting.

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