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Pimco New York Municipal Income Fund III V.PYN


Primary Symbol: PYN

PIMCO New York Municipal Income Fund III (the Fund) is a non-diversified closed-end management investment company. The Fund's primary investment objective is to seek to provide current income exempt from federal and California income tax. Under normal circumstances, the Fund invests at least 90% of its net assets in municipal bonds which pay interest that is exempt from regular federal, New York State and New York City income. The Fund may invest up to 20% of its total assets in investments the interest from which is subject to the federal alternative minimum tax. The Fund also invests at least 80% of its net assets in municipal bonds that at the time of investment are investment grade quality. Pacific Investment Management Company LLC (PIMCO) serves as the Fund's investment manager.


NYSE:PYN - Post by User

Comment by bugoffon Dec 08, 2012 6:42pm
149 Views
Post# 20703450

RE: RE: RE: Poynt Vs Int Ace Final Annoucement

RE: RE: RE: Poynt Vs Int Ace Final Annoucement

Why would INT stock rise if DL wins? The best they can do is win control over some portion of the company (presumably the IP)... and this would, IMHO have no positive or negative effect on the stock.

The other thing is why would INT go into bankruptcy?... They are in the process of getting $3.5 million dollars in cash, plus the money from the recent financings.

For as much as I dislike INT at the moment, they are at least a year away from following PYN down the road they are headed now. (Unless they really mess up in the short term)

Personally, I give AO's chance of winning 1%. (After all, who'd give him $5 million to win the bid, when he was part of the team who got them here in the first place; and, the same entity who has the money could have bid and won, with what I'd guess to be around $1 million dollars.) IMHO, the only two who have a vested interest in the company at all, are AO (for some unknown reason) and INT to regain the loaned money... I'd say that "no other competing bids" means NO ONE is interested in the tech.

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