Maybe if they got a better buyout offer. Probably unlikely though. Sounds like a prepackaged deal..........all put together before it was announced.
Bid / ask spreads are huge in the property area at this time. Maybe Swift wants 1.0 XX for a given property and they're only being offered .5 XX (1/2 of their ask price). Is definitely a market where any potential buyer is holding all the cards.
They might just be waiting, hoping to get dirt cheap buys in a possible bankruptcy scenario. Many small drillers are "on the ropes."
Kel.............just an observer
Also some general feeling out there that refiners may have hit their peak of good fundamentals. It is a highly cyclical business that has long streaks of good and then hard times.
I agree........very likely that GS has another agenda here other than just their "opinion" of what oil prices will do in the next several months. Can't be trusted.........ever.
$20 million market cap and $1,000,000,000+ of debt. Debt is 50 X market cap. Terry, I think you have a problem on your hands.
Kel...........just an observer
A CEF that holds MLPs. Also bought some AMLP today @ 13.92 (an ETF that holds MLPs). The MLP group getting the shirt beat out of it again today. In the meantime these funds are paying steady and sometimes increasing divs.
The 'talk' is really getting strong now that oil / natgas supplies will be very adequate for several more months. Looks like no relief coming anytime soon.
Doesn't look like there'll be anything left for the common shareholders. What's being paid for the assets is about just the amount of RGDX's debt. The debt is "senior" to the common stock.
I saw this coming back in May when I finally gave up. Revenues weren't growing and the continuing losses were eating up what little cash they had. At that time, I thought they might sell some shares (dilute) in a desperation move, but that might have been forbidden by loan covenants.
Th great disappointment with RGDX was the way they kept implying that revenue growth was just around the corner and it just never happened.
Some fools follow me around and give me "thumbs down" on everything I post. I don't care.
Had some NML last year and luckily sold @ 19.96 solely for the purpose of closing a small account where it was my only holding. Lucky move.
Bought some AMLP today in my income part of my IRA. Also holding there.....VZ, NFJ, ETN, IP, SO, AMGN, DUK, SLVO, SDR, ETJ, GGN, and BCX. All are 3% or less each of my IRA. Some yield lower amounts (under 5%) but have potential for dividend growth.
Good luck to you.......................Kel
Holding some SPXU (3 X short the S&P 500) .....about even on it right now. Market is crazy. I still think the path of least resistance is lower. Right shoulder rallies can sucker a lot of investors into a stock or the general market. Pros use that right shoulder rally to put shorts in place.
Kel...............just my opinion
They're now in the business of STAYING IN BUSINESS. Terry, et al, are in the business of keeping those bloated paychecks coming in. Floundering. Banks may clamp down soon.
Kel.............just an observer now.
Take a look at the dividend press release from August 12. Much info there.
They also have to set aside a "deferred tax amount" that provides for a POTENTIAL tax liability for realized gains they may take on any of their holdings. They could have gains from one of their holdings being acquired. Of course, they can always sell a losing position to offset that gain if they desire to avoid the payment of taxes. No tax liability on UNREALIZED gains.
1.....you get a 1099. Just read that in the "summary prospectus."
2....Yes, no issues
3....no reason except that some investors feel that an issue that classifies some of their dividend as 'return of capital,' (and they probably do, per prospectus) may not be well placed in an IRA.
4.....return of capital can be an issue in a taxable account. But, now that brokerage firms make those adjustments for you annually, it's not really much of an issue.
I've held FEI (an MLP CEF) for 2+ years in my taxable account. They also issue a 1099 and CHASE makes all the adjustments at year end. Only need to look at the amount of "non taxable" distributions and make sure you don't list them as taxable income on your 1040 federal form. Not a big deal. Have also traded and held several other CEF-MLPs with no problems in my IRA and taxable accounts.
The FEI that I hold is leveraged with about 33% debt. AMLP is an ETF, so they aren't leveraged. Just looking into AMLP as well and may buy some for my IRA in the income producing section.