The old saying goes 'there are 3 kinds of statistics; etc.'. But then there are Stink's statistics. Applying Petco's past figures to Petsmart makes it look like $9.00 is a more 'fair' price today; IF a LBO was launched.
Petco was in an $11 price range [roughly] for 2 months when it began a 10 day ease up towards $15 and the buyout was announced. That is 'roughly' a 35% ease upwards in share price.
So let's pretend that PETM stays in a $4.50 range for 6-8 weeks. Then apply the 'rough' 36% price ease-up and I get about $6.00. Then apply the 47% buyout premium and I get around $9.00!! Would I sell for a $9.00 offer in the next 2 months? In a minute!
Hey, it's just a guess, theory, pure speculation and/or wishfull thinking on my part. It's been a boring summer.
Please don't even think of wishing for a $9 buyout. That is WAY to low. Hell, when this little bear market in retailers is over, and PETM is earning 55 cents next year, on it's way to 75 cents or more in Y2002, selling at a more normal P.E. of 25-30, the stock will be right back where it should be, in the 20's. Take care