Once Again, Rediff.com Said To Be Takeover Bait
By Joseph Weisenthal - Mon 08 Oct 2007 05:06 PM PST
Old rumors about Rediff (NSDQ: REDF) possibly getting bought are back, sending the company’s shares up during trading, before giving up some gains. It’s not clear what, if anything, prompted this latest chatter; Reuters notes a message on the stock rumors site TheFlyOnTheWall.com mentioning talk of a deal and heavy activity in the company’s options, but it’s predictably short on anything concrete. The article also cites Gilford Securities analyst Ashish Thadhani calling the company an attractive target in theory, but denying that any deal is imminent. It’s hard to put much stock in this latest talk, since the same rumor keeps coming up, only to be denied by the company each time, followed by no news.
Posted in: Companies, Rediff, Mergers & Acquisitions
