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Crosstex Energy, L.P. Message Board

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  • ross.john51 ross.john51 Jun 18, 2010 2:55 PM Flag

    G&P comparisons

    You said something interesting in your post..."if XTEX was bought out" or something like that. Anyway, suppose someone wanted to buyout XTEX now, do you think management would take $15 a share or do you think they would hold out for what they think they will see the company recover to...i.e. $30 to $40 a share?

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    • Nobody would pay $30 or $40 at this time clearly. Whether they would take $15, probably depends on the details of the deal and specifically what is in it for the management. There would have to be a shareholder vote, but usually the management gets their way one way or another.
      It depends on whether management holds lots of units and would make a killing on the sale. If they are not big holders, they might be more interested in whether they get to keep their jobs or not (HTE, for example, agreed to a crappy buyout, probably because all the management got to keep their jobs under the new owners).
      Bottom line: expect mgmt to put their own interest ahead of shareholder interests.

 
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