Thom Guidi recently spoke with Andy Brownfield of the Cincinnati Business Courier about a mini-tender offer that P&G is urging its shareholders to reject.
Here is an excerpt from the story published on September 1:
"P&G (NYSE: PG) asked its shareholders to reject the offer of Delaware-based Mason Bell LLC to purchase 75,000 shares of Procter stock for $106 per share in what's called a mini-tender offer. P&G's stock hit an all-time high of $139.06 on Aug. 25 and was trading around $137.76, as of Tuesday afternoon.
Tom Guidi, co-chief investment officer at Foster & Motley, said mini-tender offers are an attempt to purchase a company's stock cheaply from unwitting sellers and turn it around quickly for a profit.
"It’s probably obvious to most people that the price that Mason Bell is offering is not a good deal, considering P&G’s current stock price," he said. "Mason Bell is hoping not everyone will figure that out."
Click here to read the full article (a subscription may be required).