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Fushi Copperweld, Inc. Message Board

  • lner2512 lner2512 Nov 8, 2010 2:26 AM Flag

    I've seen this play before

    I own shares of NRGP, which accepted a buyout offer from NRGY, which already owned a chunk of the stock. Not the same as FSIN, but not that different. When the buyout offer was announced, the same law firms surfaced, touting the same "investigations". That was a couple months ago. Nothing has happened since--no litigation, no change in the offer price. And this offer has since been approved and accepted by NRGP unit holders.

    The market certainly doesn't think this offer will be sweetened--FSIN is trading well under the offer price. If any arbs were interested, I don't think that would be the case. And since the CEO owns 29% of FSIN, I doubt there'll be any other bids.

    So, I'll be selling my FSIN tomorrow. Too bad...