RE:JohnACI hit the brokers at $15.50 - $16.50. That was rejected. Price dropped to $14.50, and sold out.
Debt had to come down so WGL could get good rates on the long-term bonds they need to issue from time to time, and asset sales was the only reliable (and fiscally prudent) way to do it in a timely fashion. ACI was a good way to do it, but poorly orchestrated. Still got the job done.
trevorjplows wrote: I appreciate your take but if i remember rightly sold aci at much lower prices than today and again if i remember rightly , as i am admitadly getting older i mmt opined asome while ago that debt reduction asset sales and integrating wgl assets they wanted to keep were their focus , and that div increases were not in the cards now or the forseeable future. Just my remembrances and take regards trevor.