I heard from a reliable source that LM got wind of the fact that an unfriendly investor was lining up to pick-up a big chunk of this stock to get an inside look at the books. He is a former LM employee who went on to greener pastures in Private Equity investments.
Hmmmmm, that would have almost been like a hostile takeover? Who would want to take over this crud? They way that their regional markets have been underpricing business for years, this book isn’t worth the paper it is written on. Lots of trouble looming, and that is another reason why investors backed off?
Welcome to the Market! Now that you’re here, let me explain the difference between “bid” and “ask” ….
I heard from a reliable source that LM got wind of the fact that an unfriendly investor was lining up to pick-up a big chunk of this stock to get an inside look at the books. He is a former LM employee who went on to greener pastures in Private Equity investments.
Hmmmmm, that would have almost been like a hostile takeover? Who would want to take over this crud? They way that their regional markets have been underpricing business for years, this book isn’t worth the paper it is written on. Lots of trouble looming, and that is another reason why investors backed off?
In order for someone to create a hostile take over I think the public float needs to be greater than 20%.