Burger King Holdings (NYSE:BKC) is trading up almost 22% in pre-market this morning as 3G capital announced it will take the company private at 24$/share. The whisper numbers yesterday were calling for a US$2.95 Billion takeout price but this offer tops all estimates at US$3.26 Billion!
Wall Street analysts are perturbed by all the M&A activity recently. As stocks are reaching their cheapest levels in a decade, the fat cats are deciding to pick up as much stuff as they can on the cheap.
Andy Kibbens (Co-CEO of "The Markets Are Open") said yesterday that "call option volume on BKC rose to never before seen levels which indicates the shares are likely to go higher!". He also said "this is a very exciting time in the markets and there is big money to be made by hunting for stocks that will eventually get taken over for huge premiums"
