XMFL, A Correction in Purchase Price

Published on October 12, 2007

XMFL, A Correction in Purchase Price

October 12, 2007

(for details pls visit www.OptionPundit.net)

This is to update my comment on Purchase price for XFML shares by Ron Burkle. Based on trading markets I mentioned that “Billionaire Ron Burkle also became part of the company via his Yucaipa fund which got a pretty nice deal when it purchased a stake in Xinhua Financial Media at the end of September. The 8.57 million share stake, which was purchased from company insiders, cost the fund $25.72 million or $3 per share.”

There is discrepancy in the way data is reported across several sources. The only data base that I could confidently confirm was “Ownership analyzer” that reports purchase at $7.66. I shall therefore assume this was the price, vs $3 as quoted on trading markets.

Todd, an OP reader highlighted that price quoted wasn’t correct. For details, you may visit comments section. Thank you Todd, for highlighting this! This increased my confidence in XFML further, as the difference between what Ron paid and what I did, is not much.

Profitable trading, OP

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