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Allis-Chalmers Energy Inc. Comm Message Board

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  • jmatson.rm jmatson.rm Sep 16, 2010 4:52 PM Flag

    Date for Seawell shares

    I'm not sure you read the entire PR.

    "The merger is subject to the approval of Allis-Chalmers' stockholders as well as HSR approval, and other customary conditions.

    (Stockholders haven't voted on it yet)

    The companies anticipate that the transaction could close as soon as the end of the calendar year.

    (Of course it will come to pass, but it needs to be voted on by current shareholders first)

    Seawell and Allis-Chalmers intend to file a proxy statement / prospectus with the U.S. Securities and Exchange Commission as soon as possible."

    (We should hear something in the next month or so)

    jmat

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    • Thank you both!

    • I read or thought that I understood that the buyout of ALY is tax free for stockholders. Is this true?

      At $4.24 and waiting for $4.25, this stock is "dead money". I felt that way when ALY was at $4.02 a few weeks ago and sold my shares in a Roth IRA and bought HERO, which is up 20% since that time. I would sell my other shares of ALY in my taxable brokerage account now, except that I have significant capital gains having purchased a block of shares at $2 a month before the announcement. I am only holding to qualify for the "tax free" status. I thought that I read that the buyout was considered a purchase, so my selling would be at the price of the shares the day before the buyout and significant uptick transpired.

      I would appreciate some insight on this situation.

 

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