At the close of the market, I saw a new report that EasyLink (NASDAQ:ESIC), which I have followed closely, has just been acquired by OpenText (NASDAQ:OTEX) for $7.25 a share. I will try to file another story when I have more details. My reaction is that this price is below the target I was hoping to hit with ESIC but, on the other hand, I am getting paid sooner than I thought.
This is a reminder that private market value is not totally irrelevant when judging stocks and the stock market. ESIC was up 46 cents today and closed at $6.36.
Disclosure: I am long ESIC.