Marine Products Corp. (MPX) Tender Offer
- Company: Marine Products Corp.
- Ticker: MPX
- Market Cap: $340mm
- Size of Action: $29mm
- Type of Transaction: Tender Offer with Odd-Lot Provision
- Potential Gain (%): ~1% plus potentially more on a earnings beat (see below).
- Expiration: Midnight November 1st, 2016
- Tender Limit (Shares): 99
- Max Investment ($): $880 per account
- Max Gain ($): $8 per account
- Sec Filing: Link
- Summary: Marine Products is offering to buy 3.2mm shares for cash at a price of $9.00. As a potential bonus, MPX is expected to report Q3 earnings the last week of October. An earnings surprise or beat could drive the stock above the tender offer price while your downside is protected by the outstanding $9.00 tender offer.
- Source of Funds: The company will use cash on hand to fully fund the tender offer.
- Odd Lot Provision: ...“odd lot holders” who hold shares registered in their names and tender their shares directly to the Depositary and whose shares are purchased in the Offer will avoid any applicable odd lot discounts that might otherwise be payable on sales of their shares... so shares must be held in name and not through a broker, as most offers are.
- All information contained on or available through this Web Site (“the Content”) is for general information purposes only and does not constitute any investment advice.
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