I agree. Management should have worked with their underwriters to place the AVIV shares in friendly hands albeit at a discount, similar to the way they handle secondary offerings of their stock. Time for a presser from OHI or a buy reccomendation from the street.
Aviv insiders registered 18 million shares (see latest Edgar filing). Those shares started hitting the open market on Tuesday and the selling continues. I'm on the sidelines until this situation is over. Also, REITS are selling off this week, that doesn't help.
Insiders were selling, not rank and file shareholders. See my post from earlier today. MS is selling 18 million shares for??? has to be Aviv insiders. 6 mil today, more on the way. I'll buy more under $40 when the selling has been completed..
Lots of Aviv folks unloaded today, lots more on the way..
Under the terms of the merger agreement, each outstanding share of Aviv common stock was converted into 0.90 of a share of Omega common stock. In connection with the merger, Omega issued approximately 43.9 million shares of common stock to former Aviv stockholders and holders of certain vested equity incentive awards of Aviv.