I dont hold, but if you are holding I'd hold on. Cemex bid is true low ball. There will be others interested I'm sure. Cemex is just first shot. Let it play out.
Will be interesting to read what the board says first thing Monday morning. My guess will be "Thanks for puting an extra $4.00 on our share price, but not higher enuf. Try again, with at least at 2 following the dollar sign."...or words to the same effect
Dont forget RIN was $22.00 in May.
I do have some pity for those that had their RIN shares for sale high up the Market depth late Friday avro. You'd wake this morning and read the paper and see the takeover talk and think woohoo, only to see that your shares have gone in a frenzed selling closing auction on Friday. I guess that is why I never put my shares on for sale unless I really want to sell them.
While the buyers who bought in the CSPA yesterday will make a packet, the best one is the trader who bought 30 nov call option contracts yesterday. They will make themselves a cool $120K+ for holding basically for a 5 hours for a $5K outlay. Now that is the way trade!!!!
Good luck to the holders.
Cheers
RIN Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Not Held
