Score One for Efficient Markets!

You better sit down for this one.
Earlier I mentioned that Fiserv (FISV) started spiking around noon.
The reason seems to be that Blackstone (BX) and others are in talks to buy Fidelity National Information Services (FIS).
Yes, they’re confusing the ticker symbols.

Or possibly, folks are buying FISV because they think other people will mistake the ticker symbols which will lead to…even more people buying FISV!
In other worlds, welcome to Wall Street.
(I should add that the two companies are competitors so some reaction to the buyout should be expected.)

Posted by Eddy Elfenbein on May 6th, 2010 at 1:56 pm

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