But is 55.09 enough to get them to back off or will the huge resistance continue on Monday?
Which validates the old saying that no good deed goes unpunished. Maybe Friday's regular market will be more objective.
I share your disgust. After holding BXLT for several weeks, I sold it in the final seconds of the market for about a 200 dollar profit which is far lower than I was imagining I'd clear. The "unconfirmed" news that was coming out only made the buyout offer less attractive and elusive. If it actually happens and the stock takes off, I'll probably kick myself but after all the grief, closing it out and moving on feels kind of nice. Good luck to any longs waiting it out. Live long and prosper.
Some longs throwing in the towel with all this conflicting buyout news floating around out there. It's a head scratcher and people don't like uncertainty.
This is an excellent example of how NOT to buy out a competitor. If the story is accurate, no deal will be made and all this time of "negotiating" was for naught. The Shire folks screwed it up by not offering a more substantial offer quickly and getting the deal done. Since no other competitor has stepped forward, BXLT may very well go down initially but recover later.
CNBC shows 2.2M shares traded so Yahoo obviously screwed up on total volume. Disregard first post please.
Seems like their list of possible takeovers is as endless as their negotiations on BXLT. You can't buy everything out there - time to focus on the good stuff and let the rest of it go.
week of trading with so many trades thrown around? Seems like going up should be relatively easy from this point on or am I missing something here?
MW may have problems kickstarting a resurgence of sales at JAB but the punishment is way over the top. Got a feeling the shorts have taken a big position and only a catalyst story headline can overwhelm them.
Their CEO stated on several occasions that his interest is high in BXLT and hasn't given up on it yet and it's still alive. To be searching for alternate prospects prior to ending discussions with BXLT is disingenous of him and makes him look like a horse trader rather than a serious prospective buyer.
I totally agree. This M&A game they're playing is getting to be ridiculous. BXLT is being punished as a result and Shire is running amok confusing the issue even more. When stories generated by unknown sources can torpedo a stock it's time to say "enough is enough - clear up the situation so all the guessing can end".
He seems to be the only guy in the whole bunch who knows what he's doing so not to welcome him back would be a big mistake. But maybe he's too busy with his two new startups.
I'm sure lots of folks are in the same quandary. M&A talk high yet Mr. Market is very skeptical. With a rejected offer of 45, Shire has to sweeten the deal, no? Yet the stock seems to be locked in a narrow trading range as though no talks are in place or it will be a lousy offer not befitting the situation. I have to assume that a deal will be offered but its acceptance is still questionable. Just making the offer should advance the stock then it becomes a question of whether or not you stick with it or sell.
Bears are trying their damndest to pin it down - every move up is countered with great resolve. Hoping they finally throw in the towel and let it rise.
3 1/2 hours left of trading - will probably hit close to 20M.
Makes me wonder why they fought so hard to buy Jos. Bank and then felt compelled to change a winning promo sales program. Why fix something that isn't broke?
If not today, there's always next week.
You really believe Cramer has that much power to move stocks up and down? He's just one voice amongst many out there and market forces are far greater than he.