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Author: WoodvilleDale Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 287  
Subject: Re: Blackstone Buy Bid Date: 11/21/2005 12:59 PM
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johnnyb223 posts:

"I'm going to hold on to my LQI shares.Yesterdays closing price is still a good 3% under Blackstones offering price. A 3% gain over the next 6 months in this market is a good play. Even if the deal falls through, LQI is my favorite long term dividend play. Any thoughts?"

Well here's an opposing view. I sold my shares on the day the deal was announced. As others have noted, it's unlikely another suitor is waiting in the wings to sweeten the deal. Given that the company taking them over is private, there's simply no option to hang on for future dividends. I say take the money and run. There seem to be no lack of opportunities to better than the 3% difference between share price now and share price at the close of the deal.

Just one old dude's opinion, of course. And, in case your interested, I put my proceeds into Annaly Mortgage REIT (the La Quinta shares were in my IRA) which has been beat into the dust on the yield curve pressure. I believe the Feds are near an end to the rate increases, the long term rates are already moving up and NLY will do just fine in a quarter or two. Many will be sad to have missed the near 11 buck stub then.

-- Dale in Woodville


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