The Effects of Time On Nov 3, COS closed at $10.20 and SU at 39.49. So what does an increase to 0.33 really do for us, i.e. also note its a 33% increase in the offer in going from 0.25 to 0.33.
On Friday January 8, SU closed at 33.25. At 3 for 1, that is $11.08, which is 8.5% more dollar terms than we had on Nov 6. Is that really what we have been holding out for?
Back in November, the impression I had was that investors were looking for $12 to $13 for COS. This is what 0.32 would have given us back then. Today, that translates into about 0.36 to 0.39 of an SU for COS.
This just tells you how badly thought out the SU offer was for both COS and SU shareholders. On top of this, keep in mind that SU was not putting up 1¢, its all paper shares.
Sadly
Namsoc