"the company expects to use available cash and borrowings under its $4.3 billion lines of credit to fund its purchase of the Notes in the Tender Offer."......available cash and borrowings .....the cash part would mean that they paying down debt, which would make the balance sheet stronger.
I understand that and I'm not being argumentative, but if you have debt that is a liability on your balance sheet, you have cash that is an asset. You replace one for the other, how does that strengthen your balance sheet? I'm guessing that it will look better becuase you won't be so leveraged, but other than not having to pay interest on the debt, what is the difference of doing that and just investing the cash and getting a return.
Just trying to get this straight in my head. I'm not a finance guru at all and I hope this stock goes to 10 on this news.
I don't understand why it is this low. You look at thier competitors and thier PE's are 15 t0 20 times higher. This stock right now is selling at around three times earnings or less.