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Tag Archives: insider trading
TBC Corporation Acquires Midas in Successful Tender Offer
TBC Corporation today announced that it has completed the acquisition of Midas, Inc. through one of its wholly owned subsidiaries, Gearshift Merger Corporation, with Midas being the surviving corporation. The short form merger was the final step of the acquisition process and follows TBC’s payment for all of the shares validly tendered. Continue reading
Posted in auto news, financial results, results
Tagged auto informed, autoinformed.com, automotive news, insider trading, Ken Zino, midas, sec, takeover, tbc
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TBC Begins Tender Offer for Shares of Midas at $11.50
The offer appears positive for Midas shareholders since share prices have ranged from a recent 52-week high of, well, $11.50 – raising the distinct possibility of insider trading – to a 52-week low of $5.08. Currently Midas is trading at $11.47. Midas made $0.28 per share during 2011 or $4 million on revenue of $184 million. For this dismal performance, its top executives were compensated $1.7 million, which left no money to pay a dividend to shareholders. Directors and officers of Midas own more than 10% of the stock, which could result in a challenge to the takeover. Continue reading
Posted in aftermarket, auto news, news analysis, prices, results
Tagged auto informed, autoinformed.com, automotive news, insider trading, Ken Zino, midas, sec, takeover, tbc
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