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ClearBridge Energy MLP Fund Inc Message Board

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  • Eggplant101 Eggplant101 May 23, 2007 2:44 PM Flag

    Amended Sale of EPDM Filing

    The 8-K filed after yesterday's close suggests that the price of the EPDM division was lowered from $162.5m to $142m. Oddly, the company's press release only mentioned that the purchase agreement was "amended". My, they do seem somewhat penurious with information when it's not good news. I wonder what else they don't bother to tell us?

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    • Over 10% price reduction and that is not material! Perhaps if they wacked 13% off of their take home cash pay and benefits they might gain a greater sensitivity to the definition of 'materiality'. what a bunch of crooks and thieves. better rape, pillage and plunder while the goods are there, they can always apologize later.

      • 1 Reply to munch313
      • Yeah, but now they've got a new face on the board: the guy from Triarc. They are a shareholder now, so he's gotta care. Did Triarc step in poop (their basis is only about $10/share), or do they think that something good can happen? I will bet that if Triarc was just on a fishing expedition, and they aren't happy with what they caught, and they can't throw it back, then CEM gets new CEO by next spring. Sorry for all the mixed metaphors.

    • Sorta like the old saw about why people from Alabama (you pick the state) are happy to be only the second dumbest state in the Union - at least they can say they are not from Arkansas. Big Boobby sits up on that brownfield site in Middlebury and says well at least I'm not Vinny the Ginny!

      Oops gotta run there is an all hands meeting with Greg Mickey D and the championship for Bull$shit Bingo is on the line!!

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