Very good - 200m/yr free cash flow - current price is only 10x cashflow
40% of the world have negative interest rates
china has a doddy currency
these makes gold a real buy for the first time in 40 years!
going much higher
I am not sure if there is one.
If wmb takes another offer it owes ETE 1.5bn
If either breach they owe the other 100mm
but if wmb shareholder reject the deal I think that is ok
and if ETE withdraws that is probably a breach so 100mm would be owed, plus the 410 mm owed to WPZ
wmb cant vote against the deal is worth 21 to a wmb shareholder. ETE would love to get out of the 6bn financing. so we get room to reneg say 2 shares of ETE and $4 cash. I would take that!
they suspended the dividend to instead buy shares back. I would expect the buy back to be suspended if the SP recovers above 15, and the dividend re introduced.