Velan Inc (VLN-T)

Chart looks the way it does because acquisition of its very lucrative nuclear valve business by an American buyer was blocked by the French government. Illiquid stock. The family still wants to sell. Deep value, good return if patient.

It makes high quality valves for the nuclear industry. It had a take-over offer of $13 a share and he sold at around $12.50. However there were worries that the French Government might block the sale so the stock price dropped. The nuclear valves division is based in France. However he feels that the deal will go through in the next few months at $13.00 so has been buying it back as a short-term investment with up to 30% upside.
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At this late stage, there won't be another offer, so you'll have to be happy with $13. Should have received a much higher price. Asbestos litigation costs did them in.

The litigation costs over asbestos content have been increasing and eating into profits. It is a jewel of a company and should be worth more than the present offer. There is the possibility of a higher offer.

Lead in their business. Just completed a successful turnaround and enjoying strong sales and a record backlog. Cheap, trading at under a third of book value. Expects a strong next quarter, and that's when the company should sell itself. He's pushing for a sale.