SSI - which I own
The preliminary proxy is available on Edgar, and I have read parts of it. If all goes as planned, shareholders will receive the proxy shortly, and vote whether they want to cash out at about 10.35-10.39/share (more likely the higher number). The stock trades at about 8 13/16. The payout is expected to be by year end (again, if the vote is +, and all else is in order).
The market IMHO is saying
1) the deal is not a slam dunk.
2) the market, in general, and for REITS in particular, has been very poor.
I think the deal will happen (if I didn't, I would have sold my shares). The primary risk, I have heard, is in a deteriorating operating environment for the hotel industry. If the proxy goes out in its current form, I think the vote will be positive to consummate the deal.
Comments from anyone, what might I be missing here? |
