Savvy Trades and Investments

[hweb2]

Interesting development on SYNL. Stock down after the company cutting guidance (no surprise given the sector). I would think SYNL is now more likely to jump at that generous $20/share buyout offer from Privet, given today's news.

From the PR:

“Since our letter dated May 29, 2019, the Executive Committee of Synalloy’s Board of Directors has been in contact with representatives of the Privet Fund,” said Craig C. Bram, Synalloy’s President and CEO. “Privet has requested additional diligence information, which we will be providing in a data room later this week.” Bram continued, “The Board of Directors of Synalloy remains committed to doing what is best for all shareholders and will consider any and all good faith offers made to purchase the Company.”

https://finance.yahoo.com/news/synalloy-updates-full-2019-guidance-181500351.html