Onthe same day they announced the offeringh below street prices they softened it by announcing a div.. Still they lost lost of capital and the drop may keep this stock below 23 for a while . I mean buy it at 23 when you can get it for 21 and change
Its cost cutting , folks.You streamline the factories saving money then you follow it up with cutting the new offer price below the existing market and cutting the profits of existing shareholders to the tune of about 500billion to raise 450 billion. Now the new adjusted price is going to be difficult to sell with open market economics. So I guess they'll adjust that too, the carnegie way and make say 18-17 the new offering price? No one is rushing to pay 23 these days. And guess what board members of X ?Lucky charms weren't made by leprechauns Even if Andrew would have believed that if he was alive today.