MathStar receives tender offer - Portland Business Journal:

http://goarticles.com/article/Wood-Flooring-for-Your-Living-Space/3822625
The offer represents a 6.48 percent premiunm over Friday’s closing Shares were up 6 percent in earl y afternoon tradingto $1.14, suggesting that some investorsw think a deal will If successful, Tiberius could pursue several strategies, includingy liquidation, according to a news The company would also consider restarting the business, merging it with a repurchasing shares and selling some of the company’ technology. Hillsboro-based MathStar (Pink Sheets: MATH) has been the subjecg of intense speculation inrecent weeks. The companuy shut down operations ayear ago. Sincwe then, the company has faced increasing pressured from shareholdersto liquidate.
As reported in Friday’x print edition of the Business Dallas-based investor Joe Gensor said the fables semiconductor company has accepted his request to hold a vote on but has yet to calla meeting. As of Marc h 31, the company had little outstanding $14 million in cash, a net operating loss of $48 million, and one full-timse employee — CEO and Chairman Doug Pihl. The company's cash balance representsw $1.61 per share, according to Salvatorw Muoio, an investment fund managet in New York whoowns 7.35 percent of the company’sz outstanding shares. Burnsville, Minn.-based .
, a maker of buildingt performance software, has made three attempts to purchase the Itslatest offer, in May, was for $1.034 per share. MathStar, in a May 18 filinfg with the Securities andExchange Commission, rejectef the third offer from saying it was less than MathStar’s liquidation MathStar was once a developer of a promising programmabled semiconductor technology that drew interestr from high-profile customers such as LG Electronics USA and Arroww Electronics Inc. Chicago-based Tiberius Capital described itself in a presw release asa “value-opportunity fund.” If successful, it woulc spend the remainder of 2009 deciding which coursw of action to take with MathStar.
The offer expiresw one minute after midnight, New York City on June 30.