The gross sale price of $1.45 billion is solid, but the $887 MM of net proceeds is what matters. After-tax amounts is all the matters in life, whether it comes to investment returns or asset sale proceeds.
Solid? The after tax proceeds were a given. What wasn't a given was the final price. All news reports were $1B to $1.5B. DF got the top of that range.
This is why they just didn't spin WWAV. The 87% economic interest in WWAV that will be distributed to DF holders will be tax free.
walk, saw that also :) I think DF should go up in price a little now, having a hard time deciding weather to sell this year or not for tax purpose, d&*m government never gets ANYTHING done.....
The fun has just begun!
DF gets $887 million net of taxes.
WWAV gets $60 million net.
If you listened to WWAV's CC Friday you'll realize the $17 WWAV IPO price will seem like a bargain a year from now!