RE:this will go back to $5.80 range tomorrow
It is not in the Venezuelan's interest that the price spirals down. They are spending tons to squash the Alfa bid. Their average price is above $6.00 a share. If the price spirals down, more will vote with Alfa. If the price continues to rise, more will vote with the Venezuelan's. The only way to resolve this issue, however, is through a bidding war. Who wants PRE more and how high will they pay. The Venezuela, who feel the buyout offer is too low are pressuring Alfa and co. to bid higher. If Alfa doesn't respond quick enough, you can dam well expect the Venezuelan's to make a higher offer and we will then see how bad the Mexicans want PRE. My feeling is that they will counter higher. And so goes the war. For the benefit of us shareholders, May the batlle linger and best group win.