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National Financial Partners Corp. Message Board

  • deshrex deshrex Apr 3, 2013 10:39 PM Flag

    Reuters says bidding at $1 billion...

    Roughly 1x sales and $25 a share...

    According to the 2012 proxy statement and the Citadel announcement, 6 parties have a 5% or more stake in this company...

    Sentiment: Hold

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    • spreadtrader311,

      All option volume so far this morning is on the CALL side with a majority at $25.00 strike price. They are betting a takeout price higher than $25.00 1x sales is pretty cheap. I wonder what a good benchmark would be,1.25x or 1.50 x for a takeout? At 38.44 shares outstanding adding another $1.00 to $2.00 to the takeout price does not raise the total price that much.

    • Yes, at 1 billion and 38.44 million shares outstanding that would equate to about $25 per share....nice. Let's hope we get a little bidding war going that takes it a bit higher even.

    • Deshrex,

      I agree. This will be taken out for a minimum of $25.00 at 1x sales. CEO Bibliowicz was suppose to step down at the end of March 2013 but was changed to May 2013. Remember she is the founder so she is engaged as part of the takeout negotiations. Bibliowicz owns approx. 434,108 shares. This will be a real nice takeout premium for her.