...just a little more about what I've picked up on, but no more after this. Naming names might stop the player from continuing the current action before a disclosure needs to be made. On the other hand I don't wanted to see a tender offer at $4-5 a share either; that would be an attempt to steal the company.

What I noticed was how the conference call was conducted. It was a different type of CC from the usual. They catered to interested parties who have large positions that have not yet been disclosed. If you go to look up filings (from 3 months ago) that are being listed right now; you will find some very small new holdings that may be much larger now(approaching the 5% max.).

I don't usually believe the potential for a takeover, but I do now. Taking Unisys private would make it possible to separate the pension expense, get window rate loans to do it at a better credit rating, create a holding company, etc. This would make the private Unisys worth three times as much as now. In addition Coleman knows this game from past experience(Compucom).

Just look at the transcript and analyze who is asking what question on the call (also ask why are these people even on the call)and see if you get the same impression.