RE:FMLThe market is notorious inefficnent in this industry so all may not be lost.
E.g. -- it's at $15.30 now. I have zero doub Jummy P is bluffing. He's been buying stock all through the $20s and the $30s. For him, $16 is a steal.
So, you're all but locked in for $16. Why it's not there is anyones' guess. Keep in mind Jimmy and his team (Michael K, Glen Clark) all sit on the board. So it's not like this is out of left field -- it's going to be well received I suspect. No blocking likely, but mgmt will do thier best to sell for the best price. Well, to bless it -- they don't get to choose, us sharesholders do in a vote that will be coming in the fall.
So ask this question -- ever made a largely risk free 4.5% before? This is how. Buy at 15.30, sell at 16.00 flat. There's upside further if a white knight comes riding in. That can happen -- the Koch brothers bought Georgia Pacific and took it private. Or make the Thorlaksons at Tolko want this. Or maybe Brookfield comes back. Or Buffett takes a run (he like industrials too, not just consumer stakes -- see the BNSF railway purchase of his).
I'm taking some easy money this morning -- if the market is that dumb to be trading at this level (like who TF would be selling below $16????) I'll take thier money any day of the week.