With other stock takeovers, We found that if you save a link to the message board, it will still be accessible through he link, even if it does not come up from the Yahoo messages tab. They do change the website features, though so can't say will still work. .Those were much more active boards wtth dozens of messages each day, so a lot of hstory and was nice not to los it.
I don't see the 1.892 either - we should get 1.905 shares. See description below for formulas. ATT is still trading (but maybe Friday close is key?)
I am not sure when the deal closes (or closed?) Since DTV does not seem to be trading since Friday close, maybe that is friday's close of 33.29 for ATT. Using 33.29, which is below the 34.90 collar, there would be 1.905 shares ATT plus the 28.50 in cash. That works out to 93.82 per DTV share. If ATT rises to 34.90 then that would be equal to the 95 per share value. I was looking for something that says if Friday closet is the final ATT price for the conversion, but have not seen anything.
From DTV investor relations:
The proposed buyout is for $95 per share, but about $66.50 will come in stock.
For each of their DirecTV shares, shareholders will receive 1.905 shares of AT&T stock if AT&T's stock price is below $34.90 at closing and 1.724 AT&T shares if AT&T's stock price is above $38.58 at closing. If AT&T's stock price at closing is between $34.90 and $38.58, DIRECTV shareholders will receive a number of shares between 1.724 and 1.905 equal to $66.50 in value.
I wonder if the cash Dist could be a "return of cash" distribution? Why are they giving cash back out in the deal? I did enquire what would be the nature of the cash Distribution. I was told by DTV representative that it would be a taxable event, though.
Spoke too soon. ATT now well below the collar. 95 price is at 92.76 (ATT at 34.08). It has been down before, so maybe will recover.
Is there any word on the 180 day clock for ATT takeover? Have not been following that closely. I know someone said in a post that it started back up (day 102) on Nov 6. Is there a link to verify that?
Interesting that ATT keeps going over/under the 34.90 collar price. Currently, a few cents below the full 95 buyout level.
They stopped the clock on 180 day approval process. Does anyone know if they started back up or is the approval still on hold? It is not so obvious that it will be approved.
ATT was way below the 34.90 collar, now is exactly at 34.90. So, current ATT share price gives the entire 95/share (if approved).
Still need to worry about the collar. DTV buyout price already reduced to 94.44 with ATT 34.56 (below 34.90 collar). If ATT keeps dropping, so will DTV buyout price.
yes 66.50 worth of ATT stock will be given - number of shares prorated based on value of ATT at that time, unless outside the collar of 34.90 and 38.58. If ATT below 34.90 then the number of sahres would be capped at the 34.90 value (less shares given and less equivalent value for DTV shares), and shares given at 38.58 vs prorated which would result in more than 95/share of DTV stock. Today is the first time ATT went below the collar so the drop below 34.90 is equivalent to a drop in DTV value.
It is pretty surprising that DT V is so far below 95. They are saying 85% chance of deal going through. Even so 100 seems to be a good value for DTV. The 84 value of DTV values ATT at about 32. So either that is what people think it is worth or they do believe the merger will happen. If ATT worth on 32, then stock price should reflect that.
Can someone send a cruise missle in direction of Jim Cramer ?
See his latest "news"
Raytheon (RTN) Falls Further As It's Water-Logged And Getting Wetterat TheStreet(Tue 10:01AM EDT)
Maybe that includes the debt they are also taking on. That would be part of the total value of the deal. Stockholders would get the 95.
Is there a vote needed for this. Never thought it would not be approved. If stock below 95, I can;'t see why it would not be? If over 95, that would depend on who has most vested interest. Of course, if over 100 could just sell it and get more than the $95 so not sure it would matter at that point.
Hard to say why it is down today. Other than it goes up and down for no reason, generally. It is interesting that LMT and RTN go up and down at the same times- almost exactly. The amounts sometimes are different, but there is a force other than the details of the Co's that drives the stock price. Usually, goes witht the market. But, today both are down big when the market is subsattially higher. It all makes no sense. Raytheon announced a 10% div hike today and the stock tanked majorly. Both could be way up tomorrow though. Don't forget they have doubled in a year so can;'t really complain too much.
Actually presentation is very upbeat. Expectation fromWash. trip that therewill be a "small bargain" to keep funding in good shae (about the same as 2013). Re-iterating that cuts are all based on reduction of defense budget increases (so not actually reductions). Also, said there are 5 new projects taht are "week" away from some activity. Mentioned that is about 5B of postential work.
So, the drop seems to be part of an industry wide thing - except Raytheon hit by far the hardest. One would hope that it will indeed be 90, maybe around year end?
I played around in UNG a few years ago, but have lost touch. Price is around 20, and was around 8-12 at the time. Historical price shows that it was around 200. So, I assume there were splits. I saw a 1 for 2 and a 1 for 4. So since 20 is that all the splits (price 8X lower?).
Is there no where else that people can post the gossip and political drivel rather than on financila message board?
I am always amazed when I look back here. Yanoo is usually pretty good at keeping at least somewhat on topic. Every one in a while, like today, I wonder why RTN stock is doing poorly on an up day. All that is here is the usual soap opera gossip. I did see a post regarding NLOS so that is somewhat to the point, but otherwise it is useless.
Is there not a twitter page better suited or even facebook?
Can anyone tell me why TBT is down 40% between May of 2008 and today, when the 10 year rate is about the same. I am wondering if there is a general downtend with rates being the same or if it is due tot he leveraed nature of the fund (since no change to leverage I don't see how that could be tnhough), or maybe just random. Next time over a year or so it might go up based on the same interest rate levels>?