27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
Shares of Apollo Education Group Inc (NASDAQ: APOL) were trading higher by more than 14 percent early Monday morning at $8.90 after the company confirmed it has received a revised buyout offer.
Apollo Education said a consortium of investors led by the Vistria Group and Apollo Global Management offered to acquire the company for $10.00 per share. The consortium initially offered to acquire the private education provider for $9.50 per share.
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Related Link: Apollo Up 28% After Announcing It Will Be Acquired
Apollo Education noted that the revised offer represents a "best and final offer" and a 52 percent premium to the stock's closing price on January 8, the day prior to the announcement the company's board of directors was pursuing strategic alternatives.
Apollo Education's investors gathered for a special meeting on April 28, and nearly 58 percent of the Class A votes cast were in favor of the proposed transaction. In addition, nearly 80 percent of the outstanding shares voted to date were in favor of the merger. However, the votes received thus far do not yet constitute a sufficient majority.
Apollo Education's shareholders will vote on the revised proposal May 6 at 1:00 p.m. Phoenix time in a new special meeting.
"We are delighted that the increased purchase price will provide our shareholders with $10.00 per share in cash at closing. The Board believes that the increased offer clearly makes this transaction an excellent outcome for shareholders, particularly given the headwinds facing the company," said Greg Cappelli, chief executive officer of Apollo Education Group. "We appreciate the support of the many shareholders who have voted in favor of the merger agreement and are confident that others will recognize the value that this revised offer represents."
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.