He will renig on the deal, which is normal for him, cancel the deal, which is normal for him, and the two spinoffs will come back into the company and it will trade again, as usual, with all three
entities back together.
He may indeed cancel everything, but the people buying CSMA now, post X dividend date, will not/can not retain any ownership interest in AdHatters and Envirotec. Even if those two entities are re-acquired by CSMA, only the holders of the 25 million shares back in October are entitled to that ownership interest. Those shares bought AFTER the x dividend date, for a few pennies, are not now nor should they be equivalent to the shares acquired pre X dividend.
For example, post X dividend CSMA shares are intrinsically worth anywhere from 1/10 to no more than 1/5 of pre X dividend shares and if, and I do say if, some recoup were to occur, it wouldn't be anywhere near 1 for 1.
TG |
