Filed under: Deals

I’ve written about Sherwood Investments’ offer of $7 per share for Trans World Entertainment (NASDAQ: TWMC) and I’ve expressed more than a little skepticism.

Now, at least some of the skepticism has been assuaged — Sherwood has filed a 13-D indicating a 5.48% stake in the company. Should we take the offer more seriously now? Yes. We now have confirmation of Sherwood’s ownership of the stock it reported in press releases and an assurance that the company was not trading on the hype its press releases generated. So the ethical worst case scenario has been eliminated.

But questions remain.

Right now, Trans World is a stock trading up about 40% in less than a month on two offers, both of which are contingent on financing.

Continue reading Trans World Entertainment gets a 13-D filing from Sherwood

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This entry was posted on Wednesday, December 12th, 2007 at 5:03 pm and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.