Alvarion gives up earlier gains on delay of potential acquisition

Alvarion (ALVR +4.1%) gives up the majority of the morning's gains after the company announces that the court-appointed receiver has requested an extension of the operating plan from Aug. 23 to Aug. 30. That plan allows the company to operate as a going concern and carry out a bidding process while in receivership.

The stock was up as much as 32.9% before the announcement. Traders betting on an acquisition by Aug. 23 were disappointed.

The receiver will "continue discussions with the parties which submitted offers as part of the bidding process to sell the company and/or its assets."

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs