Post by
bluejay100 on Feb 20, 2019 10:29pm
Fascinating stuff..
..to see the market pricing above the latest offer. The odd thing is that there is a fairly juicy dividend there for those holding for the next month or so, so buying in now at a small premium might make sense as a bif if an option to cash in on a further bid, with the floor of the existing bid and the sweetener of 20 cents per share to come.
Hindsight is 20/20 - I was seriously considering adding to my position simply to cash in on the dividend in the short term, but I didn't pull the trigger. And then the improved offer came in. Only have $20k invested as this is not a core holding for me, more of a speculative punt which seemed to be going very wrong at one point - and I had already averaged down to get to the point where the original offer made me just about whole.
Will the private offerer come back for another go? We have very little information to go on. What was the original counter-offer - something in the region of $8? What would be the next bid if one was to come? I would think you would be looking at $9.25-$9.50, possibly a bit higher if they wanted to make a statement. That would leave us looking potentially at a $10-plus bid from Vistra - if they really want it.
Comment by
wateroperator on Feb 20, 2019 11:14pm
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