Tuesday, June 14, 2005

Hit #47

Private equity firm, Blackstone Group, made a $1.15/share bid for Wyndham International (WBR), the operator of luxury hotels and resorts. This is a 14% premium over my average cost of $1.01/share.

I own a larger than usual number of shares of Wyndham, having bought them as a speculative bet.

This offer still undervalues Wyndham and a better offer from another suitor is likely to surface soon.

Previous hit - Providian (#46)


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