RE: RE: Really not that bad at allI've read all the arguments on both sides and it has confirmed my initial impression. We are having our pockets picked in broad daylight.
This is a terrible deal. In fact it is so bad that I doubt it will ultimately go through at the current premium.
I have been buying SST since about $2.20. I bought it all the way down to .40 and I've been buying it on the way back up.
I think we all learned during the carnage of the last few months how important it is do buy companies with strong balance sheets so you know you can go through a downturn and come out the other side without being diluted into oblivion.
It seems some people here want to convince us that we should happily accept all our valuation metrics being degraded because we will be a bigger company. A year ago, Teck was the "go to" name in base metals. Now they are struggling to stay solvent because they have too much debt.
I cannot for the life of me see how management can say they are acting in the best interest of shareholders. This is a BAD BAD BAD deal!
Can someone please explain to me why I should like this deal, other than the fact that SLW is bigger?
I have not read been reading the SLW board but I would guess there are far fewer p'd off posters over there.