Splunk shares were trading at $119.59, so ~31% premium.
Cisco lost 4% in premarket trading.
Splunk shares were trading at $119.59, so ~31% premium.
Cisco lost 4% in premarket trading.
acquirer pays a premium to nudge the acquiree's board to approve
acquirer's shareholders that disagree with the deal sell, in anticipation of value destruction
a board that approves a 0% premium (barring unusual exceptions) will be sued to oblivion
"the market thinks” gives the stock trade market an aura of reason and intelligence which it absolutely does not deserve for many historical reasons. Trading as it exists today is unhinged capitalism, it’s a cancer on our societies as it widens the gap between rich and poor. It should be taxed, something like an Automated Payment Transaction tax, to make high frequency or even medium frequency trading simply unrentable.
I’m not against the concept of stocks in general, but the way it operates now is simply sick, I don’t see how to phrase this differently.