Fish Tacos Rock - Maybe the bid sticks
Mill Road Capital, a private equity firm, has bid $8.70 per share for Rubio's (RUBO). Reuters reports that at least 24% of the shares, including those held by founder Ralph Rubio, are lined up to take the offer.
There are challenges to the offer and I hesitate to make predictions after the last two buyouts got rejected, but I think this one goes.
I should probably cut the risk and take the $8.50 Mr. Market is offering for my shares. However, with cash returning ought point bupkus, I think I'll hang on for the pair of dimes still on the table.
Hopefully the new owners will kick expansion in gear and get some restaurants here in Northern Virginia - and bring back lobster burritos while they're at it. Might even let Mill Road have my shares at a discount if they commit to that. :)