at $45.06. Deal priced at $45.80. Right now the yield is about 7.8%, why sell now? No fundamentals of the company has changed, no more shares outstanding just a larger float. They will try to get it up towards 45.80 by the end of the day and as we approach the EX date we will be back to 47 IMHO. In this low rate and growth environment people are looking for a good yield with some growth.
Generally agree with you, and added shares this AM at $45.02. To me, this news means a bunch of existing shares are now on the market, and pricing will be weak in the short term. No dilutive impact and no impact on the company's prospects. No idea when it'll climb to 47, though.