On Wednesday, I noted that ASA International (ASAA) reported that they had received an offer from a third party to buy all shares of ASAA for $6 per share in cash. Well today the unnamed third party revealed themselves in a press release issued by Rippe & Kingston Systems, Inc.
This press release indicates that Rippe & Kingston Systems is serious about their $6 per share offer. It will be difficult for the board to continue to dismiss this offer without raising their “going private” offer above $5 a share. Luck has been very kind to me on this transaction. It is almost guaranteed that I will be selling these shares for more than the original goal of $5 per share.