The whole Market is a mystery. Look at Disney. Blockbuster Earnings turns into new 52 Week Lows. Obviously the Market isn't phased by ACAS's discount to NAV and the fact that it is seriously exploring selling all or part of the company and having back nearly half it's shares when all is said or done.
When you have over 300K shares left what's the difference. NMB wanted to take advantage of the bargain basement prices on the 3 stocks in question. I wish I had that kind of leverage.
The market sell-off is more telling than the increase in the Fed Funds Rate. That's not why Disney and Apple are at Bear Market Prices. It's about the Global Economy heading being in a Recession. It's about the slowdown in China. It's about the 19 Trillion Dollar Debt and no stop to it. It's about anemic GDP Growth. It's about Fiscal Insanity caused by the current President's policies, etc., etc.
The DIV is going, not doubt about that. There is a Global Recession in progress. Oil will range low for an indeterminable amount of time. That doesn't bare well for off-shore drillers with large debt. There will be Reorganizations. SDRL and SDLP could be among them. But no one has a crystal ball. No telling when this company will inform their Holders. Remember that the Parent (SDRL) was reiterating that the DIV was safe and then pulled the rug.