Tuesday, March 22, 2011
Takeover Bid For Oaks
Oaks Hotels and Resorts has received a takeover bid from a Thai company, at 35 cents per share. This compares with the peak price of $2.40 a share. Boy, some investors have lost more money buying Oaks shares than people lost buying apartments that are managed by Oaks. Is it possible for the purchaser to clean up the mess? Oaks is a company that owns management rights, and even though has "hotel" in its name, does not really operate hotels.