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Let's talk stocks! Some interesting stuff I've found in the meltdown
Here is some interesting stuff I've found in the meltdown. I don't do too many special situations but looking seriously at these. Anyone have any thoughts on these?
Delia's (DLIA) announced they are selling their direct marketing division for $100 million. That is $3.28/share. Stock is currently $2.15.
BUD is being bought at $70 offer by Inbev. Deal supposed to close in 08. Current price $59.95 (14.4% spread)
Circuit City is possibly heading toward bankruptcy. Book value over $6.00/share. Even if you value inventory at 50% book value is over $2.00/share. Activist investor Jim Wattles has managed to get some board seats and finally got experienced turnaround expert James Marcum the CEO position just a few weeks ago. currently selling at .39/share.
Warren Buffet is buying CEG. Supposed to close within 9 months. Offer price $26.50. Current price $24.33 (8.2% spread)
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