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They couldn't liquidate hundreds of millions of shares at that price. The more they tried to sell off, the lower the price would go. In the acquisition, all o
by pchristensen 19y ago
They couldn't liquidate hundreds of millions of shares at that price. The more they tried to sell off, the lower the price would go. In the acquisition, all of the shares would be bought at that price.
- deleted 19y ago[deleted]
- timr 19y agoDoesn't matter. If the institutional investors were so brilliantly prescient as to anticipate the failed negotiations, they could have easily profited from the knowledge. They didn't need to liquidate. Hell...simply making a public statement on the deal would have put immense pressure on Yahoo's board to sell. Where were they last week? Point is, this stuff is largely crocodile tears. These guys weren't long because they thought Yahoo would be bought out, they were long because they saw value in the investment. Complaining now that Yahoo's negotiation strategy was somehow "irresponsible", is either massive hindsight bias, or part of some more complicated scheme....