looks like we should wait till the down draft is over before buying tal went exdiv 5-10 for .45 and down .83 today
where are you getting this exchange info? have not read the s4 but overview on tal's website id just an exchange of stock and tal's shareholder will get an special div of .54
people are reading the info for the proxy vote and dumping now or it could be some triton share holders shorting the stock now as they can deliver the new combined shares. since triton does not publicly trade we can't see the arbitrage but triton does have a lot of shares outstanding. by shorting now they will be liable for the special dividend
since the special dividend is not actually declared, not many arbs or investors are counting on it. look at the june options, the 15 calls are going for .20-.35 given a special div of .54 and a stock price at 14.40 the calls don't really reflect any dividend given a full month of time premium
my broker, (etrade) on estimated income shows tal's regular quarterly div in august. but does not show the interm div since it is contingent on the shareholder vote.
What jefferies does not take into account is that SUN can have a secondary and fund some of the dropdowns with equity in which case SUN should NOT pic jefferies to help with the secondary!
It sounds to me that there is a problem one shareholder wants more info on the appraisal processes and that may tie it up in courts or turn down the merger who knows in any case investors hate uncertainty
My broker e-trade adjusted the call I am short from 17.5 to 16.96 yesterday but I have not received the div as of yet.
Its somewhat immaterial what any brokerage co give as a rating most are just shots in the dark .
what I am waiting for is a secondary, in reading the latest ppt for the dog and pony show they almost stated that one was coming (soon)