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Penn Virginia Corporation Message Board

  • carnivor1224 carnivor1224 Jun 25, 2014 5:39 PM Flag

    I'm not sure I get it

    Soros basically says the management of the company sucks, and that he wants them to sell the company and the stock goes, up? .... doesn't make sense to me. Having less faith in management doesn't make the company look any more attractive to potential buyers than it did before. Why the raise in share price?

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    • The following line was from a piece this past March when Soros increased his stake in PVA to 9.18%:

      "Soros Fund Management believes that the company “has been very well managed” and “the financial incentives for its management team should be enhanced.” :-)

      Sentiment: Buy

      • 1 Reply to nypd2726
      • Yes seems true, but that was 3 months ago. Things change or maybe management has been dragging its feet not moving along. Time is money too. The thing that Soros referred to on the issuance of that convertible preferred stock by management is a deep concern. When the management did that I lost all respect for them because they stole from the common shareholders through dilution and not getting a high enough price for the preferred. Shareholders do not know what kind of palsy walsy deals could have been struck at their expense by the executives of PVA. It will not be written down anyplace but Soros seems to smell a rat. I hope he sues the executives of PVA and can recover the damages on dilution from them out their own pockets.

    • Yup, I think you have a point. Besides why should management of PVA care about anything Soros would say? He is just a stock holder, grant he holds enough he could send it into a death spiral if he so decided to by selling his holdings and then shorting even more.

 
PVA
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