I could be wrong but usually the company buys the majority holding or all of the companies shares - including ours, however that needs to be agreed to by the share holders - the majority share holder(s) - unless its a hostile takeover and they purchase the majority.
They submit an offer per share (example $10.00 per share) I dont believe COP own any of KAR - only 60% of posideon?
the price would most likely significantly go up, a takeover can be good or bad, if they offer for example $15.00 per share, thats great for some of us, but long term - kar would most likely be worth ALLOT more, so bad for people who planned to stay long term holders.
hope this makes sense, it was a rushed reply.
KAR Price at posting:
$7.74 Sentiment: Hold Disclosure: Held
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