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First Niagara Financial Group Inc. Message Board

  • techglass1 techglass1 Oct 5, 2011 9:04 AM Flag

    Dissappointed with managment

    How can managment act so stupidly. They have taken one of the best banks in the country with a rock solid balance sheet and decided to make a transforming acquisition without a real plan. The need to raise additional capital to pay for the acquisition was so poorly handled that the dilution will now be 30% more becasue of their terrible judgment. They could have easily done a secondary offering at $12 or $13 back in june and july prior to announcing the deal to buy HSBCs branches. What is worse is that the news was leaked out and the stock traded down at the end of June from $14. IT was considered a safe heaven bank with a great and solid dividend. Why in this environment would you pay over $1 billion for hsbc branches knowing you have to divest a lare portion of them without real buyers. Just stupid

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