On October 9 Mackenzie Capital and affiliates offered to purchase up to 1 million shares of Pendrell Corporation (NASDAQ:PCO) for $1.00 per share.The Shares are, for now, traded on the NASDAQ but there is a relatively low volume of trades (average of 76,154 Shares per day) and the Corporation intends to terminate its listing and “go dark” on or shortly after November 30, 2017 (See Form 8-K filed on Sept. 22, 2017). The Shares have traded at prices between $5.89 and $7.61 per Share over the past 52 weeks. Source
In spite of the steep discount, Pendrell management has remained neutral on the tender offer.
Mackenzie has since extended the offer to November 27, 2017.