Sherwood, which owns 1.35 million shares of Trans World, or about 4.3% of the total shares outstanding, said it was "highly confident" that if the company were to seek out competing bids, the shares would sell for more than $8 each.
Earlier in the month, Higgins, who owns 40% of the Albany, N.Y.-based retailer that operates under nine brands including FYE, Sam Goody and Suncoast Video, offered to buy the company for what was at the time a 25% premium. However, shares are now trading at about the offer price. — Matthew Wurtzel
See letter via PR Newswire
See story from The Albany Business Review
See earlier post from Dealscape
