Post by
10sailor10 on Mar 21, 2016 1:41pm
in friday out today
still like this stock but picked up 45000 shares of BNK......42 cents profit a share paid in june closing at $2.20. will wait to get paid and take another look at CXR in june. have a good day.
Comment by
cavinsin on Mar 21, 2016 1:54pm
10 Sailor10, ha...ha... you are funny, like most that sold last week, keep sailing, make sure you don't get drifted to far. CXR will be waiting for you...
Comment by
fdfd12 on Mar 21, 2016 2:23pm
If takeout is at 2.20 and it is trading at 1.70, then there is a 50% chance this deal will not go through and you will be stuck at $1.10. BE CAREFUL BNK should be trading at 2..00 -2.05 now and it isnt
Comment by
dannyd9 on Mar 21, 2016 2:12pm
BNK is an interesting risk/reward. Trading at substantial discount to buyout price due to fears the acquirer may not be able to raise the funds. Yet, BNK would likely not have agreed to deal if they were concerned about the finanancing shortfall.
Comment by
Kisu on Mar 21, 2016 2:35pm
$20 Million breakup fee if either side pulls out of the deal. The buyer is the largest non gov't oil firm in China. Meanwhile back in CXR land....
Comment by
Kisu on Mar 21, 2016 2:26pm
Also looking at BNK - can't see any impediment to the transaction given the state of the share price. However, still holding CXR until the earnings. RBC and others target reduction being priced in so I do not think a slight miss in 4th Qtr due to FX etc will have a big effect. Then again it all depends on VRX not sh*ting on the sector:)