OM Group: Another Weasel-Like Deal Where Public Shareholders Are Sold-Out

OM Group: Another Weasel-Like Deal Where Public Shareholders Are Sold-Out by Cove Street Capital The topic for today is the deal announcement on May 31st that the OM Group decided to sell itself to the private equity firm Apollo Group for $34 a share. We own approximately 1.5% of the shares outstanding at an average cost of roughly $28 purchased within the last year, so the transaction beats a sharp stick in the eye…but not by much. Here is what we find offensive: The basic premise of any sale of a public company should be: is the upfront premium reasonably…