Quote:
Originally Posted by Hankphenom
OMG! "Michael Brown, who owns 13% in the 1933 Babe Ruth Goudey card worth around $15,000, reached out to the new Collectable management, asking to buy out the card. The last value being $125,000, Brown said he offered $130,000. "They actually did answer," Brown said. "With a 'no.' So I said, 'OK, Can I see the card so that I can perhaps make a better offer?' I wrote them back five times. They never answered."
The only thing I ever want to own 13% of is Berkshire Hathaway!
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If you're only offering a 4% buyout premium to the last traded 'market value', why would the sponsor take that seriously?.....for example, most tenders for a public company takeover (very) generally carry 20-80% premium to the last traded price.