Chris DeMuth's State of the Markets September 2022
Yet Another Value Podcast
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Is There a Risk of a Deal Breaking?
The stock the day before, I'll use round numbers. The day before the Philip Morris offer was around 75 or 80 if I remember correctly. Shareholders are freely trading this well below 106. They take a big premium deal from a strategic, well-capitalized buyer. And then all of a sudden shareholders wake up and say, hey, no, this is worth 175.
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