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TransMontaigne, Inc. (TMG) Message Board

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  • vuss49 vuss49 Dec 9, 2004 1:54 AM Flag

    it doesn't add up


    when management tries to sell out and can't they're always going to say the price offered wasn't good enough---what else can they say???------often it's true (remember RNHDA??)---often it's not--------rereading the press release, it appears that Morgan is lending TMG their balance sheet so that TMG can aquire the raw materials at market prices (gasoline, etc) needed to run the business in exchange for out of the money calls----Morgan loses nothing since they're using their overcapitalized balance sheet to aquire products at market and then pass them on to TMG in exchange for out of the money calls on which they could get lucky-----the article i posted appears to address what comes out the back end, the opaque long term contractual relationships to supply Pure, Liberty, etc----these appear to be the poison pills that scared off the big MLPs------why couldn't VLI (plus VLO) or SXL (plus SUN) or KMP easily done what Morgan is doing now on the front end????----afterall, those are some real nice MLPable assets TMG owns in a very hot market for MLPable assets--------so what was holding these boys back???----- the back end, maybe????----if i'am reading this right, then either TMG-LP or TMG-GP is going to get stuck with the back end, or they'll share it-------FWIW, the chart looks real ugly too

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