Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Southern Union
So what: Williams bid of $4.9 billion, or $39 per share, topped an existing bid from Energy Transfer Equity
Now what: The question really becomes: What if Energy Transfer Equity makes a bid to top Williams’ price? Betting on buyout offers like that is risky business, but the backstop of $39 per share wouldn’t result in too much downside if another offer doesn’t come through. I’m not buying today, and I’d wait this one out if I owned shares, because the possibility of another bump could lead to an even bigger payday.
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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