Perot Bought… Sell Sell Sell (PER, DELL)

Posted in pre-market 
September 21st, 2009

Perot Systems Corp. (NYSE: PER) is being acquired for one hell of a premium… Dell Inc. (NASDAQ: DELL) has agreed to buy the information technology services company Perot Systems Corp. for about $3.6 to $3.9 billion depending on whether you include debt, but this $30.00 buyout price is at a whopping 68% premium  This move out of the personal computer business will help it better compete against HP, but at a huge premium that Dell is going to be accused of wildly overpaying for when you go back and look at its history.  Shares are up over 65% at $29.65 on over 8 million shares at 8:46 AM EST.  This is a game called take your money and run….. JON OGG

Comments are closed

-->