Xlnt analysis. The CPKI news only further establishes that the space is definitely "in play". Seems like its only a matter of time until someone makes a run at them. But I don't think an offer at $25 would get it done. Given the value of Qdoba, it will have to be North of $30.
Oh, I agree. My point is that some private equity group could bid at $25, with the expectation of someone coming in at a higher price. Because they have already positioned up to 10% of the stock outstanding, this makes it worth their while to bid aggressively themselves, perhaps as high as $26. initially. They can have a lot of confidence at this level because even if having to buy the company at that price it is a steal.Big J in L.A.