a very old post from Jan 16th 2007 It only took 5 years , but worth the wait
Here is the post number and information from back then.
Qualifying statment, wrk units had 3 splits/sonsolidation since then and the math I used equates to a 20% premium price of $14.95 to $15.13: The final takedown was done at 6.9% wrk yield.
White rock was bought out because the units were underpriced. the Units were underpriced becuase the "market" did not like/trust Jason and his bonus structure. Never , ever did wrk become "over priced", compared to the genral REIT world.
post # 13979011 Jan 16th 2007
A few things to think about: 1. There has been some very strong movement in WRK over the past month, backed by larger than normal volume ( on a few days). 2. The "market" usually can predict what is comming down the pipe;long before we know. 3. the answer can be found on wrk web page presentation: They feel wrk is worth $16-$18 ( when compared to others in the business unit) *********Speculation on my part **************** The management "feels" or has wind of a take over, and want to put itself on the street to bring the highest offer. I think, and from past experience a 20% premium is not out of line Bringing wrk buy out at around $16.80-$17 : Just what they presented on the web page. PS high end of the spectrum at a 6% yeild would be $21. Either way it is alot more than we see now Hence "improved unit holder value