Criminal Behavior:
From thestreet.com tonight:
"Veritas will acquire the remainder of Seagate, which will then consist of 128 million shares of Veritas, other securities and some cash. The deal will reduce Veritas' shares outstanding, because it will issue only 109.3 million shares to exchange for the Seagate stake, and the Mountain View, Calif., company said the transaction would add to its earnings."
Veritas is issuing "only 109.3 million shares" of Veritas for "128 million shares" of Veritas? Can any attorney dispute that this is criminal negligence by Seagate management? They are giving away less than they are receiving, in pure Veritas share terms? (Not counting any other assets - which is purely theoretical, because as shareholders, we deserve compensation for all assets!)
Am I simply misinterpreting this information? Please inform me of my errors! Seagate management can be this incompetent or that criminally-minded? Either way, I don't know how I can remain a Seagate or Veritas shareholder. You know that due diligence went into this decision, and the numbers that we are discussing - they new in detail. Both Seagate & Veritas management thought this was a fair deal! Outrageous!
How they can spill this info to the public is beyond comprehension.
Please someone tell me what I am missing? Am I missing a section of the buyout article?
Is the value of a tax-free distribution worth the valuation discrepancy?
Send lawyers, guns, and money! Alan Derschowitz doesn't come cheap.
Just my opinion,
Respectfully, advalorem |
