Truthfully, I've taken the Solomonesque approach. I've sold half, and plan to seek appraisal right for the other half. My guess is the buyer for all(most) of the stock that has traded of late, is the acquiring company.(would expect an SEC filing some time this week). Not worth the risk at these prices for an arbitrageur. You'll note the volume has picked up and the price has gone down, since the proxy came out.(I sold mine over the last 2 days.) I believe the perception of a "white knight" bid has diminished as well.

The reason I bought my stock originally, was that the core business could have been a cash machine. I met Todd at a meeting in 2006. I asked him if he thought he could grow the top line at 15%/year over the next 3-5 years. As G-d is my witness, his answer was "if I can only grow the topline at 15%, you should fire me." There is a way to balnce near term earning, and long term growth. Clearly Todd did not know how to do this. A company this small, with limited resources should not have embarked on all of the growth initiatives at once. He should have focused his resources on the best near term opportunity. His father took the company to the edge of bankruptcy by trying to pursue growth at any price, looks to me that Todd has the same genetic predisposition for self distruction.

Bottom line, under different management, I believe there is a lot more value in MTSI than $5.75. Under Todd i'm not that sure. I'm not sure I want to own this stock if the deal gets voted down. Capex going up, Ebitda guidance going down, additional $2million of debt on the balance sheet. My only hope is that a judge in delaware will take into account Todds own words "Investing at the expense of short term earnings, to reap the benefits of long term gains" when deciding what "fair value" is for the shares.