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AMCOL International Corporation Message Board

  • OneOfTheGoodOnes OneOfTheGoodOnes Oct 16, 2000 11:12 AM Flag

    ACO results for 9-30-00

    Have only seen the S & P short version of the
    results. On its face, the earnings look promising BUT
    we'll need to read the full results including the text
    blurb to get a better feel for this past
    quarter.

    Possibly ACO was in its quiet period & could not release
    any news about the possible sale? I don't know but it
    might be the reason. If any possibility of a sale has
    been ruled out, I think they should tell the public
    but I don't know if they're obligated to do
    so.
    OneG

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Hey OneG (or any other interested parties), what
      do you make of the Nanno announcement? Obviously it
      helped to boost the stock, but I'm wondering about the
      future.
      You seem to always have a rational opinion.
      My
      guess is that Nanno is spun off at break even (capitol
      invested vs. selling price)and the rest of the company
      remains for sale to the highest bidder. Your thoughts
      please.

      • 1 Reply to accobouy
      • Acco (& anyone else),

        From what I've read
        of the SEC filing,
        1) AMCOL's distribution of
        Nanocor is "subject to the execution of a definitive
        agreement for the sale of AMCOL." I'm guessing that they
        are close to finalizing the sale of the rest of ACO
        but I don't know the SEC rules, such as how much
        advance notice is required on these filings.

        2)
        The spinoff will be 1 share of Nanocor for every
        share ACO we own.

        3) From the filing: "For
        federal income tax purposes, each AMCOL stockholder will
        be deemed to have received the Nanocor common stock
        and any cash for fractional shares as additional
        consideration for the sale of
        his or her AMCOL common stock
        in connection with the sale of AMCOL. Thus, each
        AMCOL stockholder will recognize gain or loss equal to
        the difference between the sum of the consideration
        received in connection with the sale of AMCOL, the value
        of the Nanocor common stock received in the
        distribution, and the amount of cash received for any
        fractional shares of Nanocor and the stockholders' adjusted
        basis for all of the AMCOL common stock sold or
        surrendered in connection with the sale of AMCOL. Any gain or
        loss would be considered long-term capital gain or
        loss if the AMCOL stock sold in connection with the
        sale of AMCOL has been held for more than one year and
        short-term capital gain or loss if the AMCOL stock was owned
        less than one year.
        If the distribution does not
        qualify as a redemption, it will be treated as a taxable
        dividend. In such case, the fair market value of the
        Nanocor stock received and the cash received for any
        fractional shares will be taxable as ordinary income with no
        reduction for any portion of the stockholder's basis
        in
        the AMCOL stock."

        4) Nanocor might start
        trading as a bulletin board stock

        The future?
        Heaven knows. Assuming this goes through, I'll be
        sitting on stock that effectively costs only the amount
        of tax I have to pay on the gain. As I said before,
        I can't conceive of ACO doing all this if it didn't
        think it was a reasonably good deal. Based on what I
        know now - this and my previous posts - I'm preparing
        to buy some of Nanocor after the distribution.
        Whether I do buy more will depend on what else comes out
        between now & the distibution.

        I don't plan on
        buying more ACO because the whole thing could fall
        through & it will probably take longer to recover that
        lost value. I'm just going to wait and see for
        now.

        Jennifer in Investor Relations at ACO is out for about a
        week. I'm going to ask her for any recent trade
        literature, she sent me some prior to the partial
        liquidation.

        Take a look at http://www.nanocor.com

        Try
        http://www.packworld.com for info on the packaging business

        SEC
        form 12-G is at http://www.freeedgar.com
        Good luck
        to us all, oneG

    • A full report is available on the AMCOL web site.

 

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