Given the modesty of the recent S-4/A changes, I believe they are days away from announcing it effective and identifying a date for earnings. If not, they will, once again, refuse to discuss the SEC and reiterate their commitment to the BRY deal.
The only way the deal fails is if the SEC doesn't make the S-4/A effective. The recent update would seem to suggest LINE and the SEC are wrestling their differences to the mat, as the new amendment has marginal changes and must reflect SEC input on the prior amendment. The stock prices will take care of themselves to secure the vote with a cleared S-4/A IMO. Then, LINE is back on track with acquiring additional assets and raising their distribution in the backdrop of a very attractive business model/environment while their stock price works its way back up from where it came and beyond. GLTA
The stock trading at $38 for a few months after announcing the BRY deal, in the face of the early Barron's bashing, and without the most recent acquisition. IF the SEC overhang is truly resolved and the BRY deal executed, I see no reason the stock wouldn't return to the $38+ level in the coming months. GLTA
Professional money managers do not like SEC issues. Once these are cleared up, they will gladly buy back in at higher prices.
Earnings will be outstanding IMO. Also, they have another analyst meeting scheduled for Dec. 2nd that could be another near-term catalyst for the stock. GLTA
Somewhere in there there must also be a minimum amount of time for shareholders to consider the proxy. I believe it's 30 days from the mailing of the proxies, but not sure if I recall that correctly from past experience.
No date set yet, to my knowledge. They have 45 days from end of Q. Perhaps they are hoping to resolve S-4/A before setting date. But, they can't wait past November 14th.
Counting your heading, that's 9 headlines noting Apple cutting 5C orders and only one happens to mention that they are increasing 5S orders. The trade-off sounds like a very positive thing to me.
Prices up 30%. Volumes up 15%. VALE costs down substantively. Obviously, they are going to have a blow-out quarter against analyst expectations that are below last quarter's results. Since the stock was $19 this time last year, I wonder where it deserves to be now?
In hindsight, it's possible the timing of the S-4/A and setting of dates were to meet the conditions under the Merger Agreement and allow LINE to extend the end date to January 31st from October 31st. Not certain, but possible given it is a bit unusual for them to submit the S-4/A without the SEC on board, unless they had other needs.
Exactly. I bought more today on the same theme that you outlined, including that near-term there is a $0.44 (3%) dividend to be paid and the quarter should be a blow-out relative to expectations. Also, I believe VALE is pursuing a solid strategy and that the REAL will stay very weak against the dollar which should help them export and deter competition from imports as well as help their cost structure regardless of iron ore pricing.
You are confusing the ex-dividend date and the record date. When a company announces the ex-dividend date, you only have to have execute the trade on the stock by the end of the prior trading day. The purchase will still take about 3 days to settle. When a company refers to the record date, then, the ex-dividend date is generally 3 days prior to give your purchase time to settle.
He has been the most negative of the majors on the street. He should be embarrassed to have put out a $425 in September and a $600 in October, but I like it. Perhaps his firm went long Apple and told him to fall in line.
DId you have experience with the SEC in these type of situations? I did numerous offerings when I was CEO of a public company and I seem to recall the SEC has 30-days to respond to an S-4. If they elect not to respond, it's automatically effective. Yet, I don't know if the same holds true for an amended S-4 or whether that would be the case here with the inquiry ongoing. But, if it does apply, either the S-4/A is deemed effective one way or another by about October 18th, or the SEC asks more questions and drags the process out.
I really like the latest acquisition, but betting very big on positive SEC outcome. When/if it comes, given the low trading volume of LINE, LNCO and BRY, you can bet the powers that be with a $4B+ deal on the table will assure the stock prices align to get the vote.
Good to see them proposing to increase an already set dividend. It bodes well for what they might do for the coming year which I still think will be to return the dividend to the $6B they paid before they reduced it this year. I see Moody's downgraded Brazil from positive to stable tonight. This may impact stock tomorrow in light of the U.S. being stalemated in its debt ceiling fiasco, but VALE is clearly making progress and headed in the right direction from a very low base.
Gabelli is an idiot. Apple can buy itself within 7 years or so with the cash it will generate and be more valuable at the same time.
Don't much care myself. It's either going much higher with the S-4/A declared effective and the BRY deal under its belt, or it's going to be a long road back to the thirties. What it does while we await this news is the coming days or weeks is inconsequential.