Your comment is posted on SA and has 21 recommendations.
Coal is only "dead" for the moment. There is a hostile EPA trying to force utilities to generate electricity from wind and solar (Clean Power Act). Natural gas, which competes with coal, is priced at only $2.10 MMBtu. We have had a (mild) El Nino winter, and non-economic oil and gas drilling. All these influences are temporary. Just imagine what might happen to coal if there were a change in the EPA after the November elections.
OK. I apologize to you, also. I actually own quite a bit of CSX, which is down quite significantly from my purchase price. So I'm just as unhappy as you are.
Maybe they'll raise the bid for Norfolk Southern. That would cheer up CSX shareholders. Railway Age says that if Class 1 RR's begin to merge with each other, Union Pacific would be the natural partner for CSX, and BNSF for CNI..
From the CP home page:
"Mr. E. Hunter Harrison, Canadian Pacific (TSX: CP) (NYSE: CP) Chief Executive Officer, members of the senior management team and CP shareholder, Mr. Bill Ackman of Pershing Square Capital Management will address the investment community on Tuesday, December 8 at 9 a.m. eastern standard time."
Odd indeed. Suppose AGN is the acquirer, to get around the Treasury rules. Will PFE be purchased at a "premium"?
The Rule 106-18 you have posted has nothing to do with Trinity, which is a large market cap stock at $4 billion, with a large public float and daily trading volume.. The Rule does not speak to the issue of after-hours trades. I'm not sure why you keep posting Rule 106-18, since it seems irrelevant for this equity.
182,900 shares @$25.12 =$4.6 million. Trade can be viewed on NASDAQ web site. Represents about 9% of an average day's trading volume for Trinity. I assume this is the company buying back own shares, in an arrangement with the specialist which makes huge block possible.
For comparison, there were only 3,000 shares of Greenbrier trading a/h.
In Q3 Trinity repurchased 1.5 million shares, or 1% of shares outstanding, for $40 million, or $25.7/share. They are probably going to be buyers at today's price of $26. They can juice their earnings per share by repurchasing at today's low P/E ratio.