concerning I wonder why SCS dropped yesterday?
MEL's news wasn't a blockbuster, but did indicate that someone is interested in the BHL. If it was CPG farming into MEL's land, that would mean they were getting serious about consiolidating their dominant position. With their involvement in Coral Hill, SCS, and ARN already, MEL would be the final piece.
My biggest concern would be that CPG buys ARN outright, but is happy to remain a partner with SCS and MEL. That would mean no buyout for them, and thus no buyout premium for the share price. Is that why SCS's share price dropped yesterday, and why First Energy was selling all day?