This stock had some dramatic upswings over the past few months. That, and buyout discussions, seems to have attracted the attention of momentum players (and self proclaimed buyout clairvoyants like Tim Luke).
Without a suitor, NFF was way overvalued in the teens. Reading last week's PR, it seems like the buyout may just have been an unlikely option thrown in to bolster the stock price.
My take on the situation is that their plans for recapitalization are probably to have another stock offering, designed primarily to further enrich Mas, his family, and friends. Perhaps when the stock drops back to single digits it might be attractive enough to garner some interest from a buyer. At $20+, or even the teens, I don't see where any real value can be derived from Neff.
Still holding most of my shares, on the slim chance I'm wrong. Wish I hadn't.
Mr. Fitzgerald further added: "As previously announced, the Company and Donaldson, Lufkin & Jenrette are continuing to work together to evaluate strategic alternatives such as a sale of all or part of the Company, a spin-off or a recapitalization. This process is nearing completion and we look forward to announcing its results shortly."
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