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Strategies & Market Trends : Speculating in Takeover Targets
ULBI 5.880-4.9%Jan 9 9:30 AM EST
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To: E_K_S who wrote (5691)12/4/2019 10:18:35 AM
From: Robert O1 Recommendation

Recommended By
richardred

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It's informative to scan the entire M&A landscape for data points. This is a bit of an outlier that the pump up in share price since 'strategic alteratives' being looked at was first mentioned was overdone. The final price - if this is the final price - can sometimes not live up to expectations as here stock takes a 10% dump on deal 'done' news.

I would suggest that the larger the liquidity and market cap (often those two go together anyway) the more likely news has basically leaked out about true anticipated price within a tight range. If not on the dot. But for lesser knowns as here the guess was too high- or on a more cynical note those in know let it float up and dumped on way up to the top or shorted - either way chasers got burnt. Recall the Fitbit deal chasers after initial news leaked were rewarded by about 10% though on final deal price.

Dec 4 (Reuters) - Education software firm Instructure Inc (INST) said on Wednesday it would be bought by private equity investment firm Thoma Bravo in an all-cash deal for about $2 billion, giving into pressure from one of its shareholders pushing for a sale.

Stockholders of the company will receive $47.60 in cash per share, a discount of about 10% to Instructure's closing price of $52.96 on Tuesday.

Shares of the company were down about 10% at $47.85 in premarket trading.
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