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VTSS Investor Forum

Someone is Buying Shares

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Mario Gabelli now owns 7.31% of Vitesse stock

SC13D filed on 4/16/15

http://files.shareholder.com/downloads/ABEA-4EMVKT/51907721x0xS807249-15-78/880446/filing.pdf

Hold on to your shares!
the Vitesse story does not look to be over yet:


http://www.octafinance.com/vitesse-semiconductor-corp-mario-gabellis-gamco-investors-inc-et-al-bought-new-stake/

The interesting quote below is taken from the above SC13D filing
listed as:

Item 4. Purpose of Transaction:

" The reporting persons are engaged in the business of securities analysis and investment. The reporting persons analyze the operations, capital structure and markets of companies in which they invest, including the Issuer, on a continuous basis through analysis of documentation and discussions with knowledgeable industry and market observers and with representatives of such companies (often at the invitation of management). As a result of the analytical activities one or more of the reporting persons may issue analysts reports, participate in interviews or hold discussions with third parties, with management or with directors in which the reporting person may suggest or take a position with respect to potential changes in operations, management or capital structure of such companies as a means of enhancing shareholder value."

Posted by christ3opher - 5 years ago | Updated 5 years ago

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Wow. It is really not over until it is OVER. This is not over.

I was planning on holding until the expiration of the "no shop" period.

Thanks for your continued diligence on this christ3opher.

Posted by phobos - 5 years ago | Updated 5 years ago

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ditto christ3opher. Sounds like MG is hoping for a better offer and if not, willing to take risk he will at least get the $ 5.28.

Posted by Techinvestor - 5 years ago

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As I have stated before VTSS is a stock that typically has negligible options activity. Noticed now May 15th $ 5 Calls has some activity ( 1500 contracts today- last trade $ .27, 13,486 contracts open interest).

Someone can leverage themselves by paying $ .27 instead of $ 5.27 but only have about a month for something to happen.

Posted by Techinvestor - 5 years ago

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I've been involved and a bit of a bag holder since the early 2000's. I have averaged down, but haven't had much to add to all that has been discussed over the years. I am still monitioring and still interested. Question I have is should I hold my acceptance of the tender offer until the last minute?

Posted by realroadart - 5 years ago

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realroadart,
I am quite sure if you ignore the tender offer and the acquisition takes place, the $5.28 per share will be paid to you regardless.

maybe a poster with more knowledge of this than I can explain the process in detail.

Gabelli and partners have purchased shares as high as $5.32 share. I am optimistic for a few more dollars per share and believe that this company was being sold off much too soon for optimal value.

Posted by christ3opher - 5 years ago | Updated 5 years ago

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Thanks Chris, I agree this is selling at fire sale price, but was wondering if enough shareholder did not tender would that force a new offer?

Posted by realroadart - 5 years ago

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realroadart,

I would have to believe the number of shares Mr. Gabelli and partners have bought, partnered up with number of shares that participating holders already own (most likely Kopp, others looking for higher value and probably those who are pushing for the law suits) will be enough shares held to supersede the holders who are presently pushing for the sale to Microsemi. This is all the reason NOT to sign the agreement with the sale being presented. If the $5.28 per share suits you, then sign.

it is interesting to me when I read the SC 13D filing, one phrase that sticks out is: " Each of the Reporting Persons intends to adhere to the foregoing investment philosophy with respect to the Issuer. However, none of the Reporting Persons intends to seek control of the Issuer or participate in the management of the Issuer."

for those who do not know: Reporting Person is Mr. Gabelli and partners. Issuer is Vitesse

Does this mean that Vitesse will continue on as a company with no intervention at all?

very very interesting!!


Mr. Gabelli, the white knight of the Vitesse bagholder?

Posted by christ3opher - 5 years ago | Updated 5 years ago

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It gets curiouser and curiouser.

Thank you for your continued diligence christ3opher.

Posted by phobos - 5 years ago | Updated 5 years ago

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for those interested:

here is the Wikipedia on Mario Gabelli. I first viewed him on CNBC many years ago and he continues to appear today. Another billionaire with an emphasis on shareholder value.

http://en.wikipedia.org/wiki/Mario_Gabelli

Posted by christ3opher - 5 years ago | Updated 5 years ago

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GOOD work Chris . . . I tossed my tender papers in the trash the day they arrived in the mail . . . I figured that I waited this long, I can wait some more . . . the price will be what it is. And if MG - a Bronx Bomber, like myself, - has some interest in this POS called VTSS, than more power to him. I will wait until the final nail in the coffin, and hopefully that will be somewhere north of $6

Posted by G - 5 years ago

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I wonder what Gabelli (Gamco) is up to? High Frequency Traders (HFT) plying their trade, scalping a penny or so is the order of the day.

Layoffs at Vitesse is a sure thing- interesting that Micro-Semi has a Camarillo facility near Vitesse. It will be interesting to see if they keep the Vitesse buildings.

Posted by Techinvestor - 5 years ago

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just listened to the Microsemi Q2 earnings call, one comment pertaining to Vitesse was with the closing of the merger by midnight on 4/28.

At this stage not known if Gabelli and Co. will have any effect on sale or not.

Posted by christ3opher - 5 years ago | Updated 5 years ago

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I bought some mscc after the go shop ended.
what's your take on the call?
There's no after hours activity and I can't find an active message board.

Posted by uwave1 - 5 years ago

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just spoke with a rep. from Fidelity. I was told that if I do not participate in the offering and enough people do not participate, then the offering will not happen.

if I do not participate and the offering happens then I will see my $5.28 per share within two weeks.

MSCC stated during the latest earnings call that the closing on the merger with Vitesse would occur next week ( 4/27-5/1) ( MSCC must be assuming they have enough votes)

The SEC filing " Initial Solicitation Statement" " states that expiration date of the offer is 12:00 midnight, New York City time, at the end of the day on April 27, 2015"

I am withholding from voting in the hopes that the sale does not occur.

Posted by christ3opher - 5 years ago | Updated 5 years ago

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