As previously discussed on this website, the stock market continues to be stacked against investors.
Management is too often incented to sell shareholders down the river in securing it’s own fortunes.
For example, management thinks nothing of issuing highly dilutive preferred’s and convertible’s, etc.
This means the shares are worth more if you own enough for control, which bypasses ‘anti shareholder’ incentives.
In other words, market forces are continuing to work to keep most stocks at prices where they are take over targets
By Serena Saitto
May 6 (Bloomberg) — Dealmaking is at the beginning of a recovery whose peak will exceed the record $4 trillion of takeovers clinched at the height of the merger boom in 2007, according to Evercore Partners Inc.’s Roger Altman.