Re: LOR, G*, Soros deal. On the surface, this seems to be net positive except for the poor SEA sellers who are starving for cash, and thus may tender some of their shares at an effective price of $50 per GSTRF share (if I read this right), and get only 1/2 the proceeds after making the mandatory investment in the G* "infrastrucutre finance" fund.
LOR expands it's ownership interest in G* at a discount to market price, recognizes an immediate capital gain of $8.333 per share on the shares sold to Soros funds, helping to keep LOR in the black, with the only cost to shareholders being marginal dilution in ownership of the non-G* assets that LOR holds.
G* provides some liquidity to partners who desperately need it, gets a slush fund to help out the weaker partners finance gateways, and gets the squishy benefit of the Soros connections (and halo effect).
Soros gets ownership in a great company at a discount to current market prices.
Looks overall like a wealth transfer from SEA to LOR, GSTRF, and Soros.
My thoughts.
Cheers,
Thomas
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