About 3 months from the last time they announced. Are you Short...is that why you are trying to fear monger?
It is imperative to involve the tax guys on any merger discussions. If they don't buy off on a deal, then an offer isn't made. Without doubt, when the offer to WMB was made, KW knew the tax consequences of forming ETC.
I might be with Bluff on this one. We were all just speculating how they were going to get everything done by end of June, and now they want to shorten the time frame on some items? I think might be a move to hurry up the time until the deal is killed.
If we wait a few days, another piece of the chess game will be played.
Devils Advocate asks ...even with all stock deal, isn't KW incentivized to keep pref deal so that he and his cronies can buy super cheap shares a few years from now? The only way that goes away is if he's legally forced to [and he might be].
Latham is ETEs counsel, and it's very ....let's just say, convenient for ETE...that they claim they couldn't do the tax opinion. Wonder what an unbiased firm thinks.
Hare - earnings AH on the 4th. And probably both ETE and WMB will do what they did last Q...we'll take questions about anything but the merger.
I believe deal is supposed to close by June 30. Don't know (too lazy to read PSA, and too far away) to find out what exactly happens if that doesn't occur.
It doesn't take a Rocket Scientist to know that the merger is not a sure thing, thus in doubt. You can quote me, if you'd like.
My take is ...I'm assuming Latham is ETE's law firm of choice, and as their client, ETE is [allegedly] paying them NOT to write the Opinion. ETE wants out, we've seen KW be ruthless, and giving a bonus to their lawyers to help them get out of the deal seems to be what he would be capable of.
"The lawsuit on the preferred interests could go forward without holding up the merger". There is no way the merger will go forward with the Pref deal still undecided.