Apparently with EPIC stock hovering around $3, the private equity group hovering over the battered company has decided that its offer of $7.50, down from $9.50, might be a little rich.
Managing Automation reports that with the broader markets in the toilet, Elliott was able to pull out thanks to an "out" in their offer tied to any of the major indices going losing 10%. As anyone who's had the courage to open their 401(k) statements lately knows, that hasn't been a problem.
But speculation is that they'll be back in January, when proxy season heats up, and they can nominate new directors who might be inclined to consider a new offer. Should we start a pool here to predict the new offer? Betting closes January 15. And if Elliott asks, I'd be honored to serve as a director myself :)
Disclosure: I am the CEO of a competitor to Epicor, whose open source ERP solution is doing quite well.