Wednesday, January 17, 2007

Shoulda, Woulda, Coulda
Mills Corp, the troubled super-mall developer agreed to be bought today by Brookfield Asset Management. Mills' stock tanked earlier this year due to financial problems but stabilized around $17. I thought about buying it as a deep discount turnaround play, but did not. Brookfield is paying a 21% premium to Mills' stock price yesterday, and its stock has not dropped, indicating the market feels Brookfield is not overpaying.

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