OTCQX:GXOCF - Post by User
Comment by
dabrewcrewon Apr 28, 2016 2:48pm
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Post# 24821756
RE:RE:Hard to invest in GXO
RE:RE:Hard to invest in GXOYou are confused. Their debt to equity ratio was almost 2/1, which is far from going bankrupt.. A lot of other exploration companies were in a lot more pain than them and surviving. They agreed and set terms to the sale to take it private at the very bottom of the market in Feb. Oil has since shot way up making the sell price a huge discount for the new buyer. If you read the initial reports of the deal it said something along the lines of AS OF TODAY only a 2% interest in the new company will be made by the board to make it look like they had no interest or benefit in the new company. Cause they went private we will never know, but I can guarantee you that they as of today they have a lot more than 2% invested into the private company they sold for dirt cheap.
Did they get hurt by oil dropping last summer.. most definitely, but they also bettered themselves by taking it private.