Congrats to our subscribers who have held on to Pacific Internet (PCNTF). Today, MediaRing increased their bid for the company to $9.50 per share. As I mentioned in this post about a month ago, I think PCNTF is worth between $10-$12 per share, so this new offer is getting very close to my estimated fair value of the company.

So what am I doing now? I’m still holding onto my shares for reasons related to taxes and the timing of a potential acquisition. All in all, I have no urgent reason to sell right now and of course there is still the possibility of a higher offer. At the same time, I would not be purchasing new shares at this price,  since I suspect that, though management will reject this offer, they will have a very hard time convincing shareholders not to accept it.

Please Note: I first recommended Pacific Internet (PCNTF) at $7.60, and still hold a position in the
stock. All ideas, opinions, and/or forecasts, expressed or implied
herein, are for informational purposes only and should not be construed
as a recommendation to invest, trade, and/or speculate in the markets.
Any investments, trades, and/or speculations made in light of the
ideas, opinions, and/or forecasts, expressed or implied herein, are
committed at your own risk, financial or otherwise.