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rd80 (99.26)

Fish Tacos Rock: Rubio's gets a bid

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October 14, 2009 – Comments (1) | RELATED TICKERS: RUBO

Rubio's (RUBO) received a buyout offer of $8 per share.   

The company turned down a $5 a share bid about a year ago. 

There's a good chance this one will go through since Alex Meruelo, the guy leading the current offer, is the biggest shareholder with over 10% of the stock.  About 40% of the stock is held by either Mr. Meruelo, Institutions or Mutual Funds, so unless some of the funds and institutions want to hold out for better price, it's hard to imagine this not happening.

Disclosure:  Long RUBO

1 Comments – Post Your Own

#1) On October 31, 2009 at 5:31 PM, rd80 (99.26) wrote:

There's a good chance this one will go through

Oops.  I got that one wrong.  Rubio's response to the bid makes it pretty clear they're open to selling the company, but not for $8 a share.

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