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Registered User Joined: 7/28/2005 Posts: 8
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Hi all I bought some SEBL shares back at $8.50, and was happy to see the takeover offer hit the market. As a trader from Australia what I don't understand is that the takeover offer is at $10.66 but the stock is hanging around the $10.30 mark. Why isn't it trading up around $10.66?? What am I missing? Nevania
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Registered User Joined: 6/20/2005 Posts: 2
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Nevania at least two issues will likely keep sebl trading at a slight discount to the proposed buyout price of $10.66
1) deal is for cash AND orcl stock
2) lawsuits filed after deal announced may delay (but probably won't stop) the acquisition
It's not uncommon for stock of proposed acquirees to trade at a slight discount when there is still uncertainty as to the close.
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Registered User Joined: 7/28/2005 Posts: 8
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Thanks Tilda I think I might sell and take my profit. Watch it run once I sell. Nevania
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