Actually a 1 for 4 shares is 25%...so your VTR bases is 75% of the price originally paid for VTR.
AB Inbev also confirmed now. MO owns 27% SABMiller...probably looking for a tax-free deal. I hope MO distribute the new AB SAB shares to us MO shareholders in a tax-free distribution.
I agree with you, however they did tell the public this was their plan so was not inline with their projections. Don't get me wrong, I own UDF too.