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Focus Media Holding Ltd. Message Board

fretfulporpentine 6 posts  |  Last Activity: 13 hours ago Member since: Oct 2, 2011
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  • Reply to

    Notice arrived

    by halk995 Dec 25, 2014 9:36 AM fretfulporpentine 13 hours ago Flag

    Don't quite understand you. A tender offer means that you tender your shares to Merck and they will pay you $102. The broker doesn't charge you any transaction fees because you aren't selling on the open market through them. If you don't tender (unsold?) you will still get the $102 except that you will have to wait longer until everyone else tenders and they declare the buyout is complete. It is extremely unlikely that you will get more than $102 for CBST.

    Sentiment: Hold

  • Amazing how quiet this board is.

    Any intelligent lifeforms want to comment on the following story:

    Smith & Nephew (SNN) 30% Takeover Premium 'Totally Unrealistic', Says Analyst (SYK)
    8:28 AM ET, 12/24/2014 - StreetInsider
    Smith & Nephew (NYSE: SNN) shares jumped Tuesday after Bloomberg reported Stryker Corp. (NYSE: SYK) was planning a takeover of the company within weeks. The report also said Stryker may pay a significant premium, possibly as much as 30%.
    In the view of Makor Capital analyst Dover House, a 30% premium is "totally unrealistic." Dover's argument is centered on value, and he thinks investors should avoid Smith & Nephew. If Stryker does in fact announce a high premium deal to acquire S&N, he expects shares of Stryker to drop.
    "S&N had been the recurring target of takeover speculations for months, and as before we will argue against such speculations, or at least against a high premium bid," said Dover.
    "The only thing going for S&N is its higher growth profile, and the stock appears reasonably based on valuations vs. growth . . . More worrying about the valuations of S&N is the fact that the stock is selling at historical peak valuations while profit margins are trending down. Absent of speculations, S&N would make a perfect short candidate," continued the analyst.
    "While we cannot rule out a takeover for the company, we think that the chance of a knock-out premium bid are low," he added. "We would expect [Stryker] to drop if indeed it was to announce a high premium deal for S&N (the rumor is 30%). One way to 'play' the S&N speculation of a takeout by Stryker may not be to go long S&N but rather to short Stryker."

    Sentiment: Hold

  • Reply to

    Notice arrived

    by halk995 Dec 25, 2014 9:36 AM fretfulporpentine Dec 25, 2014 1:55 PM Flag

    This is the tender offer, right? Who is your broker? Schwab hasn't done anything yet.

    Very nice that the panic selloff allowed the retail investor to scoop up shares as low as $95+. Still get a few pockets of inefficiency in the market. DRIV is another case where, earlier this week, you could scoop up shares at an 8% discount to the buyout price scheduled for about two months from now.

  • Reply to

    Q4 2014 dividend

    by mesazoombie Dec 12, 2014 11:37 AM fretfulporpentine Dec 12, 2014 8:36 PM Flag

    The previous quarterly dividend of $0.23 announcement date was Aug. 22, 2014 and the ex-dividend date was Sept. 16, 2014, payment date Oct. 9, 2014. Since nothing has been announced I am afraid the long-suffering shareholders will get zero, nada! Yet the management of this POS will not announce when the buyout will be completed and we will get $32.50 in cash, The assumed value of the CVR as of today was $2.10. I am sick of watching the stock dive like a pig at the close of trading every day.

    Someone put it out of it's misery!

    Sentiment: Hold

  • Reply to

    Still hope for a buyout?

    by fretfulporpentine Sep 27, 2014 5:10 AM fretfulporpentine Oct 20, 2014 1:22 PM Flag

    Well the buyout finally came, but not too exciting at $55.37. More of a buy under than a buy out.

    Sentiment: Hold

  • Reply to

    Implied 500% Return on Contingent Value Rights

    by gary500k Oct 16, 2014 11:51 AM fretfulporpentine Oct 16, 2014 6:37 PM Flag

    I believe the merger prospectus quoted a range of $2.85 - $3.65 for the CVRs. At one point today, 10/16/14, SWY was trading at $32.85 before recovering to $33.35 at the close. I would never trust the estimated value of the CVRs in the prospectus, but even if the value is closer to $2 than $3+ the risk/reward ration would appear to be compelling.

    Unfortunately I have allocated all I should to this stock, buying all the way down through the low $34's and collecting the last dividend. Now I will only watch and wait, but others should consider buying on the dips as it appears to be a done deal.

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