Yesterday, Goodpack stock hogged the limelight of the local newspapers and TV news bulletin with the news that a foreign group called KKR Holdings are near to securing the deal to take Goodpack company private after extensive rounds of discussions. In a stock markets here where there are not too many leads for investors, I think some investors will recall the news of Stats ChipPAC jumping close to 50% north now after news of a third party to acquire all the shares in the company. With such a “precedent”, Goodpack stock first rallied 1.6% to $2.51 from the closing price of $2.47 yesterday before closing down 2.8% down to $2.40, hence where is the “precedent”?
It may be surprising to many investors for usually when a listed company is to be acquired by a third party, the stock price will usually rallied but in Goodpack’s ......