The Deal Actually Wasn't Bad.I say this strictly from the viewpoint of what I calculate the compensation would have been worth in pre-takeover CRK shares.
I calculate this by taking:
The number of shares in the new company recieved x current NMI price of $1.05 + cash compensation and dividing by number of shares previously held at merger = 27.4 cents.
This number is basically the same as the pre-takeover price of CRK. All cash would obviously have been much better but at the current time 27.4 cents is not bad at all considering that gold has dropped in the intermediate time by a fair bit and other gold companies have fallen.
What do you think the price of CRK would be right now without the takeover? It was 27 cents or so before, I think it would be around 22 cents perhaps.
PS: Yes we have been diluted but now lets see what can be done with the new company moving forward. I have started buying shares in the new company.