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I see. However todays stock spread is $2.17. RNF 10.82 and UAN $8.65.
!.04x8.65 = $8.99 plu s $2.57 = $11.56. $11.56 if deal done today, minus
RNF stock price today of $10.82 = .74 plus what ever u can get for power
plant. Is my math any better today. Let me know, not wishing to cause u
heartburn but trying to figure end result of deal.
Do you think he cares - it is a drop in his portfolio. He got out with a big sell when UAN was at $25. Smart man - I would say so. Knew this stuff was going to tank in time and he was right.
Did Carl realize UAN was having such a terrible third quater?
Does the name Carl Ican ring any bells?? Come on guys, this is a done deal.
RNF has a good board as of a couple years ago, maybe they can make a profit if they don't listen to UAN.
Better than you management. But understandingly that is not saying much either way.
it doesn't. That is why UAN wanted nothing to do with it. Hats off to them for making at least one good decision in this AWFUL market.
So with the writedown of Pasadena and looking at the number of shares outstanding it looks like management is saying Pasadena is worth about $27M or about $.69 per share. Unfortunately not $1.00 - $3.00 additional dollars.
you bad at math:-) all american bad at math.
ant way, RNF=$2.57 cash+ 1.04 UAN + Pasadena sale or spin off.
RNF now is
The issue...and the end of RNF was the Pasadena acquisition; destroyed the company. Hard pressed to think of any deal that went so bad so quick in recent history except BoA's acquisition of Countrywide.
Getting rid of bottom rammer was an improvement imho, but we all know he's not the only one that should have hit the door. The BOD is clueless about this company.
Howdy --- Agree, however may or may not sell. As far as cash and stock (1.04) goes
it could be a losing deal depending on how stock prices hold up. Looks good, sounds
good but not so hot.