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Goldman Sachs (GS) apparently sees accounting issues at Ebix (EBIX +4.8%) a bit differently than...

Goldman Sachs (GS) apparently sees accounting issues at Ebix (EBIX +4.8%) a bit differently than Gotham City Research as an affiliate of the bank inks a deal to buy the company for $20/share in cash. (PR)
Comments (3)
  • Sunil Shah
    , contributor
    Comments (579) | Send Message
    Ridiculous lowball offer. What is going on perpetually with this company. How can the board 'unanimously approve it'???
    Will be objected and rejected.
    1 May 2013, 12:59 PM Reply Like
  • Brandond
    , contributor
    Comments (339) | Send Message
    Something smells funny on this one. I suppose Raina doesn't care if his outsized change of control payout is triggered and he makes out like a bandit. Glad I didn't purchase in the high $20s on the hopes of long term growth in the business. $20/share tells me that management and the board knew there was some issue in the business and they needed to take what they could get before the stock tested $14/share again. As a private company, GS and Ebix can sort out all the issues, get some real management in the company and GS will IPO this thing in a few years at an easy double. Unfortunately, al lthe current common holders get hosed.
    1 May 2013, 03:49 PM Reply Like
  • Mike Abate
    , contributor
    Comments (5) | Send Message
    The stock gets beaten down and then GS buys it. You got to wonder if this was an arms length transaction. I think it should be looked into by somebody.
    2 May 2013, 08:34 AM Reply Like
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