It looks like that rather large block trade in Perform shares from earlier in the week was nothing more than an institutional seller exiting to a bunch of risk arbitrageurs (hedge funds that bet on takeover bids).
In case you forgot, here is a link to the piece I did earlier in the week:
http://betaville123.blogspot.co.il/2014/09/performing.html
Anyway, Millennium Partners chucked out an announcement yesterday on Business Wire that it has snapped up 1pc of the company at a price of 258p a share. Here is the link:
http://www.businesswire.com/news/home/20140918005749/en/MILLENNIUM-PARTNERS-L.P.-UK-Regulatory-Announcement-Form#.VBvriVbg4_s
Several other hedge funds are also thought to have picked up stock in recent days. Still, it begs the question: why are these professional punters buying stock at the same level that Len Blavatnik pitched his offer for the company?
No comments:
Post a Comment