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Tenaris ADR Rep 2 Ord Shs T.TS.B


Primary Symbol: TS

Tenaris S.A. is a holding company, which is a steel producer with production facilities in Mexico, Argentina, Colombia, United States and Guatemala. The Company supplies round steel bars and flat steel products for its pipes business. It operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that include in the transformation of steel into tubular products. It operates in geographical areas, such as North America, South America, Europe, Middle East and Africa, and Asia Pacific. Its products and services include OCTG, Premium Connections, Rig Direct, Offshore Line Pipe, Onshore Line Pipe, Hydrocarbon Processing, Power Generation, Sucker Rods, Coiled Tubing, Industrial and Mechanical, and Automotive.


NYSE:TS - Post by User

Post by extremeriskon Nov 15, 2016 8:36am
337 Views
Post# 25461286

no volumes

no volumesSince last watsa buy of 3.5 million volumes of really shrunk. As A shareholders own 20 percent I think the go private conversation must be happening now. If they let watsa into the voting group you only need to buy 35 million shares to go private. Of course regulators require fmv so usin usin ebitda they could steal company here. The Globe effectively went private. If they reach 70 in unadjusted ebitda for year. Q4 should be good with baked in savings so figure will reach 40 added to 30 they already have is 90 cents a share unadjusted times 4 is $3.60 buyout for 35 million shares is $126 easily funded by cash of close to 90 and small borrowing. With this risk I plan to build larger position at this level. Don't believe many shares left that are actually trading here as has not shown up in volumes since late August. We know Watsa never sells nor does he appear to ever give up.
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