Premium offer.Joel L. Reed, who runs day-to-day operations at Relational Advisors in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , said he wasn't too shocked by his investment bank's latest coup--commanding a 72 percent premium for its sale of Foothill Ranch-based auto lender Onyx onyx (ŏn`ĭks), variety of cryptocrystalline quartz, differing from agate only in that the bands of which it is composed are parallel and regular. Acceptance Corp. Last month, credit card issuer Capital One Financial Corp. agreed to pay $28 a share for Onyx, whose stock closed at $16.30 a share the day the deal was announced. The total price: $191 million. "We thought they were undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. to begin with," said Reed, noting that the auto finance sector has been whittled down to a handful of firms over the years. Low-profile Relational Advisors has been plying the M&A trade since 1988. Ralph V. Whitworth, the firm's co-founder with David H. Batchelder, runs Relational Investors, a $2.3 billion investment fund that specializes in underperforming publicly traded companies publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. . Whitworth was a recent nominee to the board of the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. but wasn't chosen. Relational Advisors recently completed work on the complex restructuring of Enron Corp., where it was brought in to identify the bankrupt firm's remaining assets. |
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