Midas Touched, Shares Surge On Potential Sale/Merger
By Dimitra DeFotisBarron’s Roundtable member Mario Gabelli seems to have the Midas Touch: his GAMCO Investors is the largest shareholder in auto-repair company Midas ( MDS ), whose shares surged as much as 34% overnight, and were up 27% in pre-market trading Friday. The suburban-Chicago company said it hired JPMorgan Chase ( JPM ) to consider a sale, merger or some other transaction to boost shareholder value.
Gabelli is the chief investment officer at value shop GAMCO, which upped its Midas stake by 30% in May, when it purchased about 1 million Midas shares. GAMCO owns 24.5% of the company. The stock closed up four pennies to $6.58 Thursday, but after hours, it was trading near $8.79, up $2.21.
Midas said it is appraising the value of its 208 company stores, which was last done in 2002. Midas owns and operates only a small percentage of the nearly 2,300 stores in 15 countries under its name. Most are franchised or licensed locations.
But Brian Sponheimer , an analyst at GAMCO’s brokerage subsidiary Gabelli & Co . says that the company-owned stores could be worth as much as $100 million. He tells Barron’s
“solid progress in increasing sales at franchised and company-operated shops … and improving profitability” in the most recent quarter, but “the board feels that the current market valuation of Midas does not reflect the underlying value of its assets and prospects for future growth. … The board feels that the current market valuation of Midas does not reflect the underlying value of its assets and prospects for future growth.
Midas Muffler Prices - News
In a slow economy where people hold on to aging vehicles, an after-market repair place like Midas that repairs mufflers and other auto work at a discount to dealership prices ought to be positioned well. Competitors include privately-held Jiffy Lube,
The company expects oil prices at $100 a barrel to help it achieve the higher end of its outlook range. The company, which competes with Pep Boys - Manny, Moe and Jack and Midas Inc , has benefited from ageing vehicles in the United States,
Midas Touched, Up 27% On Potential Sale/Merger - Stocks To ...
By Dimitra DeFotis
Barron’s Roundtable member Mario Gabelli seems to have the Midas Touch: his GAMCO Investors is the largest shareholder in auto-repair company Midas ( MDS ), whose shares surged as much as 34% overnight, and were up 27% in pre-market trading Friday. The suburban-Chicago company said it hired JPMorgan Chase ( JPM ) to consider a sale, merger or some other transaction to boost shareholder value.
Gabelli is the chief investment officer at value shop GAMCO, which upped its Midas stake by 30% in May, when it purchased about 1 million Midas shares. GAMCO owns 24.5% of the company. The stock closed up four pennies to $6.58 Thursday, but after hours, it was trading near $8.79, up $2.21.
Midas said it is appraising the value of its 208 company stores, which was last done in 2002. Midas owns and operates only a small percentage of the nearly 2,300 stores in 15 countries under its name. Most are franchised or licensed locations.
But Brian Sponheimer , an analyst at GAMCO’s brokerage subsidiary Gabelli & Co . says that the company-owned stores could be worth as much as $100 million. He tells Barron’s
“solid progress in increasing sales at franchised and company-operated shops … and improving profitability” in the most recent quarter, but “the board feels that the current market valuation of Midas does not reflect the underlying value of its assets and prospects for future growth. … The board feels that the current market valuation of Midas does not reflect the underlying value of its assets and prospects for future growth.
Midas Muffler Prices - Bookshelf
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Franchisees were required to sell mufflers at prices fixed by Midas, and to honor the Midas guarantee on its mufflers. (The cost of the muffler guarantee ...Antitrust law, policy, and procedure, cases, materials, problems
dealer to purchase all his mufflers from Midas, to honor the Midas guarantee on mufflers sold by any dealer, and to sell the mufflers at resale prices fixed ...Trade cases
During this period appellees sold appellants the Midas muffler with its lifetime ... In return appellees required appellants to retail the muffler at prices ...Investing For Dummies
Centralized purchasing power: You would hope and expect that Midas, as a corporation made up of hundreds of locations, buys mufflers at a low price — volume ...Antitrust, law, economics, policy
13.6 — The Acquiescent Leveragee And Pari Delicto: Penna Life Mufflers, Inc. v. ... and to sell the mufflers at resale prices fixed by Midas and at ...Daily Note Directory
Midas
Provider of automotive service, including exhaust, brakes, steering, suspension, climate control, and maintenance services.
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