Friday the 13th bore evil tidings for bride-to-be Moore Medical
On Jan. 20, Moore announced that it would be acquired by drug wholesaler McKesson
Business news has been dominated lately by Comcast's
As a rule, once a solid offer is made there's a good chance merger partners will get together. Pfizer
The Comcast play for Disney is different, however, in that it is a hostile one. That is, Disney did not exactly encourage the overtures. But ask for it or not, it suddenly finds itself "in play," which is Wall Street jargon for "bleeding in shark-infested waters."
Disney shareholders must be dreaming of what could be. Might General Electric
OK, right -- back to Moore Medical. Does the left-at-the-altar bride have a dandy-in-waiting? Yes! Turns out McKesson, true to its word, will indeed acquire all the outstanding stock at the original offer of $12. It's not $15, but it is a 54.4% premium over the stock's average close over the last 30 days.
It could have been a lot worse. As usual, a failed merger led to a fall in price. Fortunately, Moore has fallen, but it can get up.
W.D. Crotty is a shareholder in Disney and is watching the merger news with great interest. He and other investors actively discuss Disney on The Motley Fool's discussion boards. For a 30-day free trial to the discussion boards, click here.