Phony guy, not sure you (or the other posters on this board) understand hedge funds work, if there was a higher bid out there, they would have taken it. Just because you think the company was worth more, doesn't mean it was. If you think it is undervalued, then buy Seagate.
The process by which an investment bank extracts bids for a company is known as an "auction". You can search the news items and find out what investment bank XRTX hired to run the process.
Soul, go back and read my posts from a year ago, everything that I said would happen pretty much did. So I guess that means I know exactly what I'm talking about and that makes you a blowhard.
soul, did you take my advice and load up between 10 - $12? Also, go back to 1 year ago and read my post about when Baker st. disclosed its stake in xrtx and what I predicted would happen and when.
I doubt there will be a dividend given that the cash on the balance sheet is part of the purchase price and I doubt that a higher bid emerges, given that they already ran a process. Holding for 6 months is basically dead money and then you have to look at the opportunity cost of re-investing your proceeds somewhere else and potential gain from that investment. You could always keep half your shares and sell the other half as a hedge.
it's not anyone guess, by definition an auction extracts the highest possible price at that time, right? The company was marketed to likely buyers and they offered what they were willing to pay. You can WISH it sold for more, but it sold for the price that the market was willing to pay...get it?
Soul, looks like you should have listened to my advice, you would have made some money here instead of losing your shirt and credibility, oh yeah, he didn't have any of that to lose!!
They did have to sell, Baker st. had a controlling interest and decided that the return that they would receive at $13.25/share was sufficient so pulled the trigger. If you want more upside via XRTX, you could always buy Seagate.
It would have been nice to receive a higher price, but they got as much as the market was willing to pay. They ran an auction process and the sale went to the highest bidder, which turned out to be Seagate. There is no incentive for Baker St to get one penny less than it could.