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LDK Solar (LDK) Buyout Rumors Swirl Again
Several months ago when LDK was trading about 200% higher from current levels, the rumors began to swirl that Siemens would make a buyout bid of LDK Solar at around $55/share. Well, it appears the rumors are making the rounds again that LDK Solar will be taken out. StreetInsider.com is out with the following note:
“Shares of LDK are moving higher today on unconfirmed rumors the company could be the target of a takeover bid. There was also chatter that a short selling outfit was telling clients to cover the stock on the validity of the rumor, but this does not appear to be true. LDK is a very volatile stock, so while the stock is up 4.5% now it could simply be because of the normal volatility. Other solar names, like First Solar (Nasdaq: FSLR) and Energy Conversion (Nasdaq: ENER), are also up today – maybe on the recent strength in crude on Mideast violence.”
Actually, LDK isn’t up all that much over other solars this morning (up 5% as I write this) but I’d imagine that at these prices LDK probably isn’t the only solar company on the buyout block.
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