Doesn't RSO have one underway?
I am going to repeat myself again on this. Would Morgan Stanley extend $250 million in financing to RSO if these Class Actions had any validity? I don't think so.
My TD Account adjusts for the price on the Opening. There was no such adjustment this morning which leads me to believe that the SP did not go Ex-div today.
Why should it matter if what you think will happen happens. The value of Spin Offs are predicated on the Asset Valuations, not what the SP ends up being just prior to the Spin Off. Or did I get that wrong?
If I read correctly on this board, ACAS can buy up to 25% of average shares traded on a daily basis. Based on yesterdays Close that would amount to just under 417,000 shares. 417,000 X 30 (days) X $15 (avg/shr) = $187,650,000, Divide $600,000,000 ($300 - $600 mil buyback parameter) by $187,650,000 = 3.2 months. So that amounts to 40,032,000 shrs bought back based on the hypothetical daily average share price and average share amounts used. That's real close to all the options exercised right there. If I'm wrong about the maximum shares that can be bought back daily then my calculations would change obviously. And if the average share price goes above $15 it can change the dynamics somewhat. But the SP has been trading well below $15 for many days now.