Have you all seen this? Reports of a concrete number are a good sign. "Vivion has partnered with a unit of Italian insurer Assicurazioni Generali SpA, according to one of the people, who asked not to be identified because the information is private. The investor group is offering just under $18 a share for NorthStar Realty Europe, the person said, valuing it at almost $900 million."https://finance.yahoo.com/news/vivion-said-bid-almost-900-21...We've heard nothing from the company thus far, and the deadline of 6/30 has passed, so this is a kind of way to keep outside shareholders informed of what's going on. That's why I think it's possible this news was leaked. And there are a number of large shareholders here who want to know what's going on. And what happened to the other two bidders that we heard of near the end of April? Hopefully we get this process resolved soon and with a higher price than this. But the stock hasn't moved up all that much in response in a situation where the company is very obviously for sale and with a concrete number attached. So there's a lot of skepticism here that NRE gets sold. Will these two rumored buyers step up? Will NRE extract more from Vivion?Jim
thanks. Just bought some Dec $15 calls, hopefully this is taken out before then.
https://seekingalpha.com/news/3475788-axa-buy-northstar-real...$17.03/sh deal close in Q4...
Well, well, well...Interesting that we had reports just a few days ago about nearly $18 per share and then we have this. Could it have been someone leaking that to get a higher price out of the buyer?Anyway, here's what we've got. And we'll get a $0.15 dividend in the interim. They're expecting this to close early in Q4, which is only a few months away now, perhaps as soon as three months. So with a 4.4% spread (with dividend) between today's price and the final price, I expect we'll see a modest bump in the stock on Friday. That seems too wide given the time frame and the likely finality of this deal. But ohmygosh did the insiders take their cut on the way out the door! So ends this saga. Thanks for the post, Rob. And isn't it just like a Northstar entity to announce it on the last day before a holiday weekend? I would have missed this for days. Jim
Well, Kingran, you didn't have to wait long on those calls, huh? Hopefully you got them at a price that you still make money here. Jim
But ohmygosh did the insiders take their cut on the way out the door!It's pretty much the Northstar way, after all.This should be a reminder to all of us, that once you feel like management is out for themselves, it's time to cut and run. I felt that with Hamamoto, it didn't take long for the Colony crew to rub NS holders the wrong way, and I think that we shoudl have decided that if Colony was willing to let Hamamoto and friends deal so strongly for themselves when NSAM, NRF were up for sale, it was a strong sign that Colony was not going to be shareholder friendly, either.
I have to agree. It's been an expensive lesson learned.Sure do miss DuGan!-srockaz
I am going to make $.1 or $.15 per contract, nothing to write about. If the takeout price was $18 that would have provided a nice return. I won't be waiting till December, will close out the call on Monday.
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