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Ok, firstly I have voted no and will not be changing my voteand I control 65K shares, small but not insignificant. Secondly, I suggest anyone else who believes that the SOA is not fair and reasonable should do the same. That has been my position from the start. All well and good if CSAG negotiates a fair offer, but they have not. All I have heard from Vic today is that:


"While I am here. I know that there are many questions that people might want answered. Unfortunately, and I hope you understand, I am very limited in what I can say."


What sort of a cryptic message is this after weeks of negotiation? No disrespect to him, his submission was a major piece of work, but if all it has lead to is a token 7% increase in the bid then we still have a serious problem. If the SOA crashes and burns so what? The business is growing at 40% and the sky is not falling. There must be individuals in the CST that can take over from the fatigued RR's No one is indispensible. Plenty of bright enthusiastic PhD's and MBA's out there, some with business and marketing experience too. Yes, the SP will drop but those of us that are in for the long haul are used to that. Why not distribute the cash reserves of $20M as a dividend over the next 2 years? I have no doubt the SP would benefit greatly.


Now Ciabatta, I have offered some suggestions, what are yours, cave in perhaps?



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Hi Red,


I'm sorry you are cheesed off.

65K shares is still a good parcel of shares, nearly a quarter of a million bucks.

That's a lot of deferred consumption!

I'm sure if they get sold from under you, you will be able to build a new collection of prized shares, and you will be able to remember fondly the CST ride.


I retain 18K of CST. I would have sold @ $3.55 so $3.80 is fine by me. I was hopeing for a better deal to be delivered by GR. I look fwd to finding how the final deal went down?

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Firstly, I do appreciate the efforts of the CSAG leaders in achieving a better result for all shareholders, however small that gain may be. Secondly, I find this new offer to still be completely inadequate. I can understand that some shareholders have timing issues such that their personal situation would suit acceptance of this offer at the present time, so they may disagree with my assessment. However, without new evidence, I cannot accept a valuation of $3.80 per share as representing value for a anyone prepared to hold this stock for the long term.


What is truly amazing in this whole fiasco is that it appears that there are a select few who are in possession of information to which the rest of us are not privy. This has been implied, insinuated, suggested and made clear (at least to me). Some would say this is just the reality of the business world. I would say that it is immoral, unjust, and self-serving. I have lost a tremendous amount of respect and admiration for those that have previously gained both through their unselfish and dedicated provision of factual and dispassionate information for the benefit of all.


To the many small shareholders who still understand that Qiagen is getting the deal of the century, maintain your NO vote. If 50% of us are smart enough to do this, the company is ours again. To those advocating a sell-out at $3.80, sell on market at $3.76 and move on - let the rest of us make our money on a great product at a great margin in a huge market. If you reckon you can compete, bring it on in 2015+ (if you can get FDA approval before 2020 that is) and let us find out for real if Qantiferon is to IGRA as Panadol is to paracetamol.


Anyone intending to maintain the rage, I invite your thanks now.



Never ever let anyone else determine your own destiny, and never ever give up.



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I forgot one important quote, from the big man Buffett himself (well paraphrased anyhow):


Go for a business that any idiot can run, because someday one will.


If this backflip is all about management quality, I wish I had $400 million to prove the backflip wrong.



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Hello there


I have been a very strong supporter of CST , and its management. This sudden change of direction caught me very much by surprise and I was outraged

and believed that my plans for the future had been demolished by uncaring company directors.

Some of those feelings remain.


Then I started to try to react as an " investor " .


There was profit for me in the proposal , even though the dream of dividends was gone. There would be a stake for other investments ....... and they are out there.


The latest proposal gives me even more money to invest in other ways. I'll just have to do some more work , more investigation and assessment of other companies.


Finally, there is the quite uncertain future of the world economy. I really don't have a great amount of confidence that world markets are recovering. In fact, I have developed a rather

pessimistic view for the next couple of years at least.


So, with the future looking a bit bleak , I have decided to accept the offer , miserable as it seems , be content with the profits made , have some money in the bank , and look

diligently for new opportunities.


If I just keep on being angry and outraged , I will have wasted time and energy , which are needed to make the most of the future.


I hope you understand.




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I have been a very strong supporter of CST , and its management. This sudden change of direction caught me very much by surprise and I was outraged

and believed that my plans for the future had been demolished by uncaring company directors.


You have captured my feelings exactly Henrietta! :grrr:


Like you, I feel that I will have to take the offer and move on. However I think I will always feel betrayed by R&R.


Perhaps we need to have a wake after the SOA meeting so we have "closure" ?


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Red, I do understand that you feel aggrieved by the course of events. So do I. So does almost everybody who is contributing to this forum. My point is that feeling hard done by is not, of itself, a course of action. I can only repeat what I said before, and what Henrietta has expressed quite elegantly in this morning's posting. The clear inference from what has now been revealed is that we have been looking at CST through rose-coloured glasses. If we regard ourselves as serious investors, then we must be prepared to, occasionally, take a hard decision, be professional, and start from where we are, rather than from where we had hoped to be.


If you elect to vote against the revised proposal, then you must accept that the risk is higher than we have previously believed. You have a perfect right to do so, but do please reflect on the possible consequences.


You asked for my 'solution'? It hasn't changed. Take the money and run.


Cheers, Ciabatta

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