Yahoo (YHOO): Microsoft (MSFT) bid $31, and might have gone higher. The board said no. Yahoo’s current stock price: $12.
SanDisk (SNDK): Samsung bid $26, and might have gone higher. The board said no. SanDisk’s current stock price: $8.14.
Take-Two (TTWO): Electronic Arts (ERTS) bid $25.74, and almost certainly would have gone higher. The board said no. Current TTWO stock price: $11.55.
International Rectifier (IRF): Vishay (VSH) bid $23, and in a friendly deal might have gone higher. But the board said no. Current IRF price: $13.30
Cablevision (CVC): This one is flipped on its head. Management last year offered to take the company private at $36.26 a share; holders rejected the offer as too low. Current CVC price: $14.69.
3 comments:
reminds me of jim cramer and his wall of shame board on his show.
good segue -----
A few words of advice to recipients of unsolicited takeover offers: In the future, take the money and run.
Companies that have rebuffed takeover offers in recent months are now trading about 50% below the offer price on average. That's telling, considering that a typical takeover premium is about 30%.
"The fundamentals of our economy are strong."
-- Senator McCain (September 2008)
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