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Need a Hand?
Your Next Project Starts with Brownstoner
When a share price rises, it’s the same as an influx of capital.
When shares of a German company replace shares of a US company at a higher price, it’s an influx of capital.
Wealth was created for the holders of NYX.
Very simple.
OK, I see it went up over last couple of days, down this morning…stock was at 33, now 37…. not exacly a huge premium. Fact remains this just isn’t a cash out merger and there is presumably no or modest control premium going to NYSE stockholders. If institutional holders cash out that’s because they don’t believe in the combined company and want to sell their stock not because they are getting a big check when the merger closes. Simply no influx of capital into the United States.
I just re-enabled flashblock for firefox.
jessi, I agree that the flat side was a mistake.
I have read Gehry try to defend it for artistic reasons, but it seems like a clear cost issue to me.
Yes, I’m getting the Adobe Flash message again as well.
“bhs, the spruce street bldg gives me joy everytime I see it on the train. It shimmers like tinsle.â€
The flat side ruins it for me. Makes me so sad, too, because I love the other three sides so much, but that flat side was a terrible mistake – though it well tell the story of this part of the city’s history well.
lech…the stock (NYX) was trading at $30 until news started to leak out abut this…now it’s $37…that’s called a gain. More importantly, the stock was $15 at the low…these are called gains.
Usually when one company buys another, the target company’s valuation reaches what the market was expecting for it so no rerason to hold on anylonger.
Both stocks actually look overvalued. I suspect institutional holders of NYX will be selling.
Additionally, people like Blackrock, Cramer Rosenthal, lazard are all big holders.
They will take the profit and run.
Yes, DH, I was likewise befuddled [virtually watching two beaming, colluding jokers slap high-five, while I pretend to knowingly chuckle, all the while glancing around furtively in attempt to glean information I’m not privy to…huh?]
I mean broadly diffuse public ownership.