Apco Bought Out for $14.50 Per Share

Today, Apco Oil & Gas International ($APAGF) agreed to be bought out for $14.50 per share.

Never heard of Apco? Don’t worry, you’re not alone.

The reason I bring up Apco is due to their interesting history. Two years ago, the stock got slammed. It fell from around $90 to $10 in just a few months. Up until then, Apco had been one of the most successful stocks over the long-term. I believe it was the top-performing stock over a 30-year period.

According to Yahoo Finance, Apco was going for 1/8th of a dollar in 1985. It split 4-for-1 since then, so in today’s terms, the price was about thee cents per share. Apco reached a high of $93.29 in May 2011. That’s a gain of 186-fold in 26 years. Annualized, that’s more than 22%.

Not bad — assuming you sold at the right time. Today’s buyout price is an 84% haircut from the high.

Posted by on October 3rd, 2014 at 4:39 pm


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