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A $6b buyout for IDT? +7
Nikkei Asian Review is reporting
that IDT is in the final stages of talks with Renesas
Electronics, which seeks to buy the firm for "well over
$6b". A meeting is projected for the beginning of next week.
With 129.3M shares outstanding, that would value each at a minimum of $46.40, and IDTI shares have risen to ~$44 so far. To my mind, this is much more credible than the Chinese 13D that surfaced in 2016. However, given current market pricing and potential regulatory scrutiny, I don't see much point in chasing shares at present.