Kinder Morgan Canada Ltd - Ordinary Shares (Restricted Voting) KMLGF

RE:Am i crazy??

[NinetyFourOctan]

You are not crazy. The mother ship is definitely going to take the lions share here. Besides it would look bad to the Canadian Government and the Canadian Tax Payer who just bought this pile of **** if KM CDA shares where going up. This project is a failure in the making so why should shareholders benefit from a failed project they invested in. As is the $16.50/sh price is as high as it is because lots of folks are hoping for a pay-out, special dividend, etc... that may never come as the mother ship does not want the Canadian Government and people to think they got ripped off. Even if KM mother ship buys back the pipeline later, the KM CDA shareholders are not going to benefit as that will be an entirely different trans-action. I would advise caution on this one; you may never see the $17/sh this one IPO'd on again unless KM makes some decent investments with the proceeds of the sale. KM mother ship can manipulate KM CDA as it sees fit and if they truly are going to make a bid to buy it back than they definitely don't want to upset the Canadian Government or the Canadian Tax Payers buy rubbing it in their noses that they got ripped off and are about to get ripped off a second time. That said, mother ship won't let the KM CDA shares collapse either, so basically you are at the mercy of them.