The problem is this is a done deal. There are not enough shareholders to vote no to stop the buyout. Personally I think the CEO was thinking just about how rich he'll be, and screw the shareholders.
$50/share. But he has only until the end of today to buy!
Michael France happy talk for their investors. Bottom line, the GP is down hundreds of millions. What part of that don't you understand?
First reserve is a different group of investors. It's you who doesn't understand!
Mr. Phillips earned a base salary of $1.33 million in 2014, plus stock options worth roughly $3 million. There are several executives earning $1 million plus packages, while unit holders have lost nearly $2 billion dollars. Does anyone see anything wrong with this picture? My guess is that Mr. Phillips, et al have parked millions for themselves for when CEQP goes under by year's end. Don't bother suing. Their money is protected or long gone.
Wonder if that GP will be bringing legal action soon?
You are making an assumption that their numbers are factual and accurate. Are you sure? Have you done the forensic accounting necessary to assure that what they are reporting is truthful? I THINK they are NOT! I can't prove it; but common sense would dictate that 23% dividends are simple not sustainable. For one minute just THINK!
The bottom line is that the company is NOT profitable and after the merger, it will be even less so. I predict the dividend with be cut by at least 90% if not to 0. Has anybody who's been ripped off heard the old adage, If it sounds too good to be true, it isn't?" These guys at Crestwood are ripping you off, and enriching themselves at your expense with all kinds of phony numbers. This is why I shorted months ago, after talking to their IR people. Crestwood is a flat out scam!
Revenues will be off the chart; and profits skyrocketing. HP Inc, on the other hand will be treading water for quite some time.
I think too many people on this MB can't see the forest through the trees. This company is toast. All the wishful thing will not change that. Anyone who thinks that 20% is sustainable is delusional. Buy all the shares you want; but you might as well just take a lighter to a bunch of $100 bills. The net result will be the same. Your money will go up in smoke.
21% is completely unsustainable