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LOOPNET, INC. (LOOP) Message Board

  • nherritt1 nherritt1 Sep 14, 2011 2:44 PM Flag

    what don't i get?

    16.50 + .03702 of CSGP Value should be the value of LOOP at any given time. It is 1.20 under where it should be right now. Anyone Agree?

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    • Yeah, this is bothering me too. Along with huge insider sales this month, the weak sales price makes it seem like insiders know something we don't. The CEO sold a large percentage of his holdings, and left about a quarter million dollars on the table, relative to the proposed takeover price (and with the takeover scheduled to close in the next 3 months).

      Either, this is a great opportunity for a nice 8% return over 3 mos (30%+ annualized), or pertinent info is being kept quiet.

      For the record, I also called Co-Star. They say everything is good, though they are waiting for Anti-trust approval.

      Also, the trading price would normally be below the value of the deal, but only 1-2% given the short time frame if this deal was expected to close. Someone clearly thinks it is not going to close -- but they are not revealing themselves.

      • 1 Reply to rexobXIP
      • I'm scratching my head too. I started buing when the spread hit 6% earlier this week but it's grown to 8%. Part of the reason may be because the overall market has moved up quite a bit quickly and investots may be taking money out of slow moving takeover stocks to invest elsewhere for the short term.

        This is a strategic, not a financial, acquisition that makes sense. They already have financing in place with a commitment JP Morgan and a revolving credit line, and CSGP also did a stock offering in May to raise cash. Shareholders have already approved the deal.

        The one negative is that there was a Rodino Act request in early July for further info but that's not too unusual and I think they have only 30 days to review after receipt of the info, whch shouldn't impact the closing date. I don't want to give too much weight to the insider sale.

 

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