I have zero idea what will happen with a very small position in PN. I bought in based on valuation and potential growth. My GUESS is the following:
PN will not sell at the current offer.
I’m sure I’ll be proven wrong, but here is my point.
Assuming no nefarious activities are at hand, PN is worth more than this offer.
Am I totally off base?
My company has bought many companies in the private market and I know logic is only part of the equation. Many other factors play into deciding whether to sell a business. As was mentioned; the CEO may just want out and that is reason enough.
Since we are throwing stuff on the wall to see what sticks, I say PN sells for 50% higher around $14.
The stock is in a rut. If the business is that good, why sell at this multiple? Just my opinion.