3par got acquired by hp @ $30something. was trading @ single digits pre-acquisition. highly overvalued
possible to short it or its no more a public corp.? silly question, i know.
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If the transaction has already closed then you can't short it because the securities have been delisted. If its been announced but not closes, then the shares are still trading/listed and you can short it.
heres 3PAR on yahoo finance. HP announced it...not sure its closed
http://finance.yahoo.com/q?s=PAR
Pre-acquisition it was trading at single digits. dell & HP duked it out, got into competitive bid and its trading at low 30s. didnt release a new product / no updated earnings / no reports or expectations of major layoffs, for absolutely no reason, market shot the price up during competitive bids. they've -ve ebitda for god sake !, no way the market cap is $2b.
agree / disgree?
You have no fucking idea what you are talking about.
3par price shot up bc it was made public that hp/dell were looking to acquire the company at a premium to its then single-digit share price... investors bid up the share price as hp and dell increased their bids. if hp/dell says they're willing to purchase shareholders' shares for let's say $30, then share price will jump to around that level as there's a known likelihood you can sell your share for that price... this is where hedge funds and other investors get in the game and make their bets on what price will ultimately clear the market, etc
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