Wish he would step up with JV partner like Phillips.
A friendly deal can only happen if ETE CEO gives credit for a bright future that WMB can have on its own. This is one of the few times in my life where I see WMB independent as a long term win and WMB acquired as a short term win but the long term win would be so much greater than the short term win because I am fully invested in ETE and cannot hold more shares so would have to diversify away versus holding WMB.
$0.59 was June 10 xd. I have no information on dividend declaration on Schwab or S&P. May be they are waiting for outcome of the bidding by SE and ETE.
Putting two mediocre companies together only created one much larger mediocre company.
How much of ACAS's NAV is retention of all income since NOV 2008? All other best and better of breed BDCs have paid out their earnings in accordance with RIC rules. Yes ACAS is no longer a RIC but on a total return basis ACAS has failed to inspire investors back into the stock because reality is investors want RIC income and they have chosen better and best of breed BDCs as a superior alternative to a former BDC whose NAV consists of at least $4 of retained NII. All things being equal had that $4 been paid out the discount to nav would be significantly less and more in line with the sector.
Yeah but who will lend to LINE in the next expansionary cycle after getting burned badly? Fact is these E&P MLPs that fail as miserably as LINE has failed will have to be absorbed; taken out so the bad memories are absorbed by a larger entity that will survive and prosper going forward.
What may be more interesting is whether EPD will look at Targa... they have a lot common asset overlays and EPD could truly dominate the gulf export business combined with Targa and get into Louisiana and all of Targa's fractionators. Targa also has many fractionators in the gulf and that would allow EPD to stop building new ones for awhile.
No, the solution for investors is to own better and best of breed BDCs. Dump FSC, MCC, PSEC... they are NOT better of breed or best of breed. High yields with negative returns on capital translate into total returns so low you cannot justify owning a BDC. Better and best of breed did not cut dividends and they have capital growth for superior total returns. Better to take a lower yield and better total return potential than FSC, MCC, or PSEC.
EPD should buy so they can gather up all those fractionators in the gulf and Louisiana in addition to a lot of assets that EPD can easily do bolt-on to their existing systems. EPD has to get into the game using their currency even though weakened and cash if necessary to acquire something big. MWE was easy to acquire because no GP. I don't expect GEL to be independent that much longer for that reason. An EPD/GEL merger would not be a big surprise either.