The Baxter portion of the spin-off would fit in nicely with PFE's HSP buy which will eventually be spun-off by PFE in their 3 way split. I kinda get this hunch that it is already in the works, esp with the vaccine deal that already happened. BAX was up big in the early market yesterday before the broader market caught up. Thoughts?
I just bought some of the bonds. I did a cash flow analysis assuming $50 oil and $3 gas and 30$ NGL. I assumed a 11% decline curve from current production for 2015 and a $8.15/BOE production cost (from PY 10k) with no new drilling. All other expenses I calculated at the same percentage to gross revenues as in prior years. I also increased interest expense by its 5 year average growth rate. I then added back depletion expense and the cash flow was more than fine.