Tuesday, 2 June 2009

well they did it...

The Raven hasn't posted for the last couple of days because frankly there hasn't been much to say, his portfolio hasn't changed, and the news flow is as expected, as is the markets reaction.
L: 86% S:13% G: 99% N: 72% ~ $D -13% $G 38% $V 1% $P 0%

Interesting stuff happening in M&A space, EMC has come in and bid $30 for Data Domain, which is ~20% premium to the previous bid by NetApp, more work and comment to come on this. To note though was that Data Domain was trading through the bid terms before EMC announced, so this was expected by the market, in addition its trading now through the EMC bid ~$30.5, indicating the markets looking for NetApp to come back with a counter. The Raven wonders where the top bid is and what makes sense for each of them, also the potential for antitrust?

On a similar flavour NRG is trading throught the EXC bid, perhaps the market is epxecting a bump, the Raven is long and will continue to hold the position as NRG looks like a pretty cheap asset.

and what did 'they' do? well they is the UAW, and yes they destroyed all shareholder value at GM, bondholder value and tax payer value. round of applause....

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