Mike urban, in august 2012, had a buy and price target of usd 71 on transocena... Now after the macondo is cleared and the jack-ups are sold and the shell deal is sogned, he feels like Rig ishould be worth 44% less!!
This is an ugly stunt and should be investigated. I smell pershing square long way. If Rig is going to eatn usd 5-6 pr share in 2014 a p/e on 15 gives ca usfd 80/90.