Pretty peculiar price behavior given the $15.00/sh cash buyout. It looked like about 2M shares were short, but over 6M shares traded today. A higher offer seems unlikely given the public nature of the bidding process. But it seems that the shorts could have covered by now. Anybody know what's going on?
Bridgestone outbid Pirelli to acquire Firestone in 1988. I don't know about any potential name changes for PBY. Yes, $15 is about what was expected (although I would have taken more!).
Bridgestone wins the bidding at $15.00/share. The deal took longer than I expected - but Gabelli got a deal done and finishes with a good return. Any ideas on what to roll a PBY position into?
Well, the deal didn't close in Q2. It seems that D.C. is taking their time. Interesting how D.C., with one tenth the population of MD is able to hold up the deal. Does anyone have any insight into what's happening?
It was extended again, till tonight. They finally got their approvals this week. Likely to close either tomorrow or early next week. Where are people reinvesting their proceeds from the sale?