Consistent with the announcement on 2025-11-13, I received a tender offer from FMCB to sell all of my shares back to the company for ‘cash at a price of the volume weighted average per security as of the close of NYSE trading on’ 2025-12-23.
I will be declining that offer.
Even trading near all-time highs, FMCB is still at least $400 shy of their fair value. Furthermore, the move to a quarterly dividend may very well make FMCB a more attractive income stock going forward. There is no compelling reason to close out our position.