Thanks, Mark; also thank you so very much for your weekly pricing reports (think that was your work, anyway.) They represented a ton of work and were much appreciated.
When I first read about the SNDK sales, I thought that SEG may be planning to use the proceeds to pay off debt. Anyway your look at it, I can't see how it would benefit current SEG stockholders. I've already voted "no" with my feet with 75% of our position, fully intend to vote "no" with the remaining 25%, and for the first time in my life look forward to hearing from a class-action attorney. Evidently, a "merger" (and I use the term very loosely) such as this is dictated by state laws, and there has been plenty of controversy before with Delaware state laws. I sincerely hope this one goes all the way to the Supreme Court.
And, amen, brother on the tax issue - can you even believe the hypocrisy in their "realizing value for the shareholders by enabling a tax-free distribution of VRTS shrs" blah, blah, blah, as they laugh their way to the bank with give-away sales of SNDK. I really think I may hate those guys.
thanks, again, Mark.
trish |
