POT Rejects TakeOver Bid, Stock Surges 30%
About 11 months back, we celebrated the acquisition of OMTR, which rewarded us with a return of over 112%! Today is yet another big day for Stock Buzz Now members! Our 2 time recommendation, POT surged up by $32 or around 28%! The cash-rich giant announced that it has received an unsolicited takeover bid form BHP Billiton Ltd of $38.56 billion. The company received an offer of around $130 per share.
The better news however is, that POT rejected the offer stating that the offer is "grossly inadequate" and is not in the interest of its shareholders! We second the decision as we too believe that the growth prospects of POT are immense and $130 per share is an underestimate. The market received the response well causing the stock to surge to around $144!
With today's surge, our returns on POT are close to 80% and 65% for the 2 recommendations!
Heartiest Congratulations to all Stock Buzz Now members as this a huge win for us!! Yet again, we have proved how strong and effective our research and strategy is as we continue to generate market crushing returns!