GREY:HRIVF - Post by User
Comment by
bart_dcon Aug 23, 2011 9:58am
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Post# 18970250
RE: RE: Severstal adds another 1% (.98%) of HRG
RE: RE: Severstal adds another 1% (.98%) of HRGSimple, they used a partner to buy shares in the open market for months (not just one month).
A lot of holders in HRG got tired of the non-performing stock, it was simple to accumulate them the last couple of months.
They probably bought at an average of 1.19 and recieved 1.29 form Severstal. Nice deal for them and good for Severstal.
Do remember that we control about 115 million of the 842 million shares, meaning 13.65%, more than the 10% we need to block a take over attempt.
It WAS easy to buy many shares untill now, but momentum is improving and less people are willing to sell.
They will drive up the price from here on if they want to buy more.