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What: Shares of Chinese mobile phone maker Qiao Xing Mobile
So what: Qiao Xing Mobile, which is already majority-owned by Qiao Xing Universal Resources
Now what: After gaining considerably yesterday, Qiao Xing Universal shares declined on today's news. However, based on the current price for Qiao Xing Universal's stock, the buyout offer still values Qiao Xing Mobile shares at a 20%-plus premium to the current price. Considering the volatility of Qiao Xing Universal shares, though, the final consideration -- assuming the offer is voted through -- could be significantly higher or lower.
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Fool contributor Matt Koppenheffer owns shares of Qiao Xing Mobile, but does not own shares of any of the other companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or on his RSS feed. The Fool’s disclosure policy prefers dividends to a sharp stick in the eye.