AsiaInfo-Linkage Shares Popped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of AsiaInfo-Linkage (NAS: ASIA) jumped 19% today after getting a buyout offer.
So what: Power Joy, a subsidiary of CITIC Capital China Partners, sent a proposal letter to the company offering to buy all of the company's shares in an all cash offer. The price wasn't released, but the company said it "represents a premium over the current stock price."
Now what: Since we don't have an exact price there isn't a way to know if shares have overshot the deal already. I think it's worth sticking around and finding out what the exact offer was in case shares climb further. Buyouts usually come with a pretty healthy premium and today's 19% jump may just be the start.
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At the time this article was published Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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