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State Bank shareholders will receive 1.271 shares of Cadence class A common stock for every share held, up from 1.160 in the previous offer. The new offer is valued at about $21.84 based on Cadence's Friday close and represents a 7.3 percent premium to State Bank's close on the day. Since May, shares of Cadence and State Bank have both fallen about 40 percent, in line with the decline in the broader financial sector.
Hedge fund managers like David Einhorn, Dan Loeb, or Carl Icahn became billionaires through reaping large profits for their investors, which is why piggybacking their stock picks may provide us with significant returns as well. Many hedge funds, like Paul Singer’s Elliott Management, are pretty secretive, but we can still get some insights by analyzing […]
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