Skullcandy Inc (SKUL) is trading higher after the headphone firm received a new buyout offer
Skullcandy Inc (NASDAQ:SKUL) stock is having a strong morning, after the headphone maker said the buyout offer from Mill Road Capital is superior to a rival proposal from Incipio -- which it now
intends to terminate. At last check, SKUL has tacked on 1.5% to trade at $6.12, putting it within striking distance of a 2016 closing high.
Of course, this could actually come as a disappointment to traders, who may have been banking on a more dramatic bidding war that has yet to materialize. After all, SKUL stock has been hovering
above Mill Road's all-cash bid of $6.05 per share for the past month. By contrast, the previously accepted offer from Incipio registered at $5.75 per share.
That said, a bidding war could still come to fruition. Incipio has until 11:59 p.m. ET next Tuesday, Aug. 2, to provide Skullcandy Inc (NASDAQ:SKUL) with a counteroffer. Plus, less than two months ago, it appeared SKUL founder Rick Alden was
jockeying to take the company private.
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