WIFI - Boingo Wireless trades through deal price as report sees unhappy holders though well shopped

Boingo Wireless (WIFI) is trading above its $14/share takeout price from Digital Colony partly on some speculation of a higher bid during the go-shop period.The company has been up for sale since 2019 and it began a full auction last year, according to a CTFN report. Source told CTFN that chance of competing bid during the go-shop process was low.At least two shareholders, a larger one and a more minor investor, plan to vote against the deal, according to a Dealreporter item. One of the investors believes the the company is worth more than $20/share.The sale process saw a limited buyer set for the whole business give its disparate asset base and Digital Colony appeared to be the primary bidder recently as other interest waned, according to both reports.Recall Oct. 27, Boingo Wireless +6.4% as Oppenheimer expects deal, upgrades to Outperform.Recall July 24, Boingo +4% as Legion Partners urges company

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Boingo Wireless trades through deal price as report sees unhappy holders, though well shopped