Gus,
<< But Sam, if SEG goes down to the $20s or even to the teens then that makes their $5 cash bid look even better. One can even see their casual spin of free-falling Veritas coming a mile away -- "That's why we wanted to spin off the Veritas stake to the shareholders and we had to give the Veritas the other assets so they could protect their momentum stock from the expected dumping....>>
The real point is that they didn't have to do anything at all. Certainly, they didn't have to sell the drive company. As for Veritas, they are showing more responsibility toward them than they are to us, ostensibly the owners of the company. They could easily have announced that they would sell up to xxxxxxx shares in Veritas from time to time, and done it discretely so that the price of the stock wouldn't have been too affected. The buyers of that stock would have been people who chose to buy Veritas. Then Seagate itself--us, the owners--would have reaped the benefits of the sales. Oh, right, I forgot, they would have to pay taxes (that dreadful, dreadful, thing--so that is why they come up with all of these restructuring--they hate to pay taxes, good for them. Right.). Well, somehow I suppose that they could come up with a restructuring or two to take care of their taxes.
I'll try not to rant too much more.
s. |
