Home » CityBoom » Chang Mounts Slow Burn Takeover of Trump (TRMP)

Chang Mounts Slow Burn Takeover of Trump (TRMP)

By Chuckmonster on Tuesday, 26th February 2008 5:15am
tagged:      comments: 0

    Add To Itinerary    

The Press of Atlantic City is reporting that Sam Chang - New York based hotel developer - has made massive buys of Trump Entertainment stock in the last few months, upping his holdings to 7.5% of the company, about 1/3 of what Donald Trump himself owns.

Mr. Chang, who has gone nuts in recent years building Comfort, Holiday, Hampton, Doubletree and Hilton hotels all over the five boroughs of New York City, is playing coy about his slow burn acquisitions of Trump stock, smartly so.

With Trump Entertainment Resorts stock currently flailing below $4/share, it wouldn't take much to acquire substantial quantities of it, and some say that Chang has been buying on the drop in the hopes that a takeover of Trump may getting seriously close.

Chang's stealthy run up on TRMP is quite fascinating... he's gobbling up shares continually yet the price continues to trend downward. Is the prognosis for Trump Entertainment so bad that a long fuse takeover won't cause shareholders to notice? Through floundering acquisition, Sam Chang has become the fourth largest shareholder of Trump Entertainment Resorts, behind Donald, Morgan Stanley and Franklin Mutual.

One has to wonder who's going to step in here and finally put an end to Donald Trump's stay in Atlantic City. At the very least, we're probably going to have to wait until the dust settles on the Tropicana deal first.

Comments & Discussion:

» No Guts, No Glory... Be The First to Post

Leave a Comment:

Welcome back ! » Profile Settings Faves

Comments are currently closed on CityBoom.
Subscribe via RSS

Recent Comments:

bat55w posted: "I have doubts this will happen based upon the idiots that run Philly, but if it does I will be..."
» Wynn Eyeballs Philly Again...
weatherman2111 posted: "Having gotten lost down there a couple of times it's a surprisign pain in the ass to get back onto..."
» Wynn Eyeballs Philly Again...
mstokes posted: "As if Atlantic City isn't in bad shape as is. Putting a Wynn casino so close won't be helping any...."
» Wynn Eyeballs Philly Again...
bgriffiths posted: "It could be a nice area, there. Yards brewing is a little south of Sugar House - they have a..."
» Wynn Eyeballs Philly Again...
bat55w posted: "I like Tony Luke's better than the touristy spots on the south side of philly(Pat's and Geno's). I do..."
» ACEats: Tony Luke's At Borgata...