I'm still trying to figure out where we stand in all of this. It's clearly not as bad as most people on this board are making it out to be, but it also is clear the the overall value of our shares weighted for risk is lower than it was on Monday.
It is extremely unfortunate that the DB side was given away at such a low price, and further that none of the cash will go directly to shareholders. I was purchasing shares in the 5 range a couple weeks ago on the assumtion that the DB side was worth at least $6/shr.
Two thoughts to throw out: 1) is there any possible way that this transaction could go down tax-free for some crazy reason? 2) I am not ready to rule out a competitive offer from another company. I do not see 2) as a high probability scenario, but it does exist.
I also agree with a short term target of about $3.5/share. This would be a good deal, and where Ascential should be buying like crazy