PROM - Cedar Creek Partners - Propel Media: Dividends Are A Nice Bonus While We Wait
2024-05-08 11:10:00 ET
Summary
- The acquisition of Propel by IQVIA was blocked by the FTC, leading both companies to walk away from the deal.
- Propel declared multiple dividends prior to the deal being called off, totaling over 15% on the cost basis.
- The fund values Propel at a higher price than the recent $0.05 trade, with a valuation of $0.69 per share as of March.
The following segment was excerpted from this fund letter.
Propel Media ( OTC:PROM )
In January the acquisition of Propel by IQVIA ( IQV ) was blocked by the FTC and both Propel and IQVIA decided to walk away rather than fight....
Cedar Creek Partners - Propel Media: Dividends Are A Nice Bonus While We Wait