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
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.
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.