RE: Buy now for 20% gain if it goes private?19 Jun 2020 15:53
I agree it looks too good to be true and it probably is but those of you who like me are very long in the tooth and short in the wallet after decades of mistakes might care to rememer the story of BSST (BlueStar Secutech).
They went private in 2013 and offered 2.5p/share when the sp was a little over 2p at the time . Naturally, most people took the tender offer. I didn't and I can't remember now why not. I had a Β£2.5k stake at that time.
Well, 5 years later I received a payout of around Β£12k and 18months after that another one of Β£17k as the holding company sold off its assets and distributed proceeds to shareholders - presumably mostly themselves!
So you have to ask yourself - are you feeling lucky?