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 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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