If the proposed buyout were to go through in the next 6 months, what would be the upside for HCBK stockholders?
The last I heard (a year or so ago), the formula was something like .083 of MTB stock price, or about $9.87 a share. Since HCBK is presently nearing $10 a share on its own, this means that current HCBK owners might actually LOSE money on the buyout deal.
As such, is there any reason at all to invest in HCBK stock currently? If the deal doesn't happen, the stock could go down a dollar or two. However, I'm not seeing any real upside from present levels if the deal goes through, unless I'm misunderstanding something.