RE:The trading action affirms the need for NBLY to go privateIn my experience , it's exceedingly rare for a stock to trade this low below the offer.
I don't get it .
In fact , I can only think of one prior experience which was a company called Strad where the management put forward a definitive buyout offer the week before COVID which does not make a direct comparable. In the case of Strad , the stock went up to the purchase and then in a week fell far below as the market imploded and stayed down until just before the vote..
PCP should have much better access to debt and should have much greater leverage to get the deal done (double the % of shares compared to Strad and with no intent to sell to a third party )....... when there's one logical purchaser..........
The market seems to have doubt this deal is doable ; I do know at least one shareholder who is very angry.