Today’s best headline
June 26, 2012 1 Comment
Today, Billabong (BBG.AX) founder, major shareholder and board member, Gordon Merchant, has said he will entertain a takeover bid for BBG even if it’s at a lower price that the prior bid.
Geez, Ya reckon??
After rejecting a $3.30 offer and holding out for a bid preferably above $4.00, Mr Merchant now sees his stock trading at $1.00.
Dear Billabong,
I will bid for the whole company at 28 cents per share, on a pre excessive offensive dilutive capital raising basis.
Lesson: You don’t normally command a premium when you are desperate to sell.
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the short sellers were calling the shots on this stock since some time last year and is currently one of top ten short interest candidates in ASX 200 index stocks