Thursday, April 27, 2006

Transmontaigne update

Transmontaigne today received a new offer of $10.5/share in cash, from Morgan Stanley. As I noted here, the initial offer was for $8.5/share from Morgan Stanley which was bettered by an offer of $9.75/share from SemGroup. I had also noted at that time that a higher offer was likely. Today's offer of $10.5/share is a 65% premium over my average cost. A still higher offer is in the offing I guess, with the shares now trading at around $10.85!
Higher and higher, please!


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