The bidding war also boosted shares of other data-storage companies, such as Commvault Systems Inc., up 6.6% recently to $22.16. Commvault had been mentioned as a possible target for Dell in the past and is still viewed by many as an attractive target.
It was also mentioned as a take-out candidate at 116% of its current price:
Patrick Walravens of JMP Securities said in a note to clients Monday that the bidding war for 3Par has positive implications for CommVault, with the valuation of the deal implying a 116% premium for the stock in an acquisition scenario.
And of course, it was mentioned on this blog early this morning!!
CVLT at 20ish, and like PAR before it's takeout, was dead money; and it was touted as being a target by NTAP or DELL. Now that DELL's acquisition of PAR has been blown out of the water by HPQ, CVLT could be the derivative play.
The market always gives you the chance for Free Money!!
You just have to take it and be fast!!
Screw HFT latency--there is always money to be made!!
2 comments:
Yes it did surge today. By the way, I don't recall you ever mentioning Commvault. What is the point of your post? You hunt around for a stock that moved and write about it afterwards? What good is that to anybody?
Oh wait nevermind !! Now I see it. Oops!
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