This was an easy call for me. I voted no.
I've been an investor for over 40 years now, and this may be the first "no" vote I've ever cast.
Trading half our distribution (the main reason many folks decided to invest in MWE), AND the IDR's, is simply too big a price to pay for what MPC/MPLX provides.
I just finished reading the 250+ page merger proposal, and am now more convinced than ever that management has sold the unitholders out. They get to keep their jobs, and keep their residences in Denver. They get retention bonuses. Who knows what else they get.
And just look at the insider sales that took place in July, 2014; about a half million shares at $15+/share, the proceeds of which were nearly $8 million. SP nosedived immediately afterward, and there have been no insider buys now that we're in the $2-3 range.
I bailed around 6 bucks. There ought to be an investigation.
If this company is such a great deal, how come the insiders aren't in there buying with both hands?
I no longer hold CEQP, but do check in from time to time.
Whatever it is, Mr. Market hates this thing lately.
Something just tells me I'll be kicking myself a year from now for not buying alI I could afford at these levels.