Alco Stores shareholders reject buyout; stock plummets


Alco Stores (ALCSfalls 19.35% to $11.25 in after-hours trade after shareholders reject a $14 per share buyout proposal from P-E firm Argonne Capital, and thus terminate the merger agreement.

"Our shareholders have spoken and said they want the company to follow through on the initiatives that are underway and build the company's profitability on their behalf." says Chairman Royce Winsten.

See also: SA Pro's Whopper Investments on why $14 per share dramatically undervalues the company.

Comments (1)
  • LYogi
    , contributor
    Comments (3199) | Send Message
     
    We could be seeing the same headline with the Fairfax/Blackberry deal when shareholders reject it IF It materializes.
    30 Oct 2013, 11:08 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
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