my thoughts, for what they're worthI am new to Well, was in CRH forever. Never sold a share even when it went to $9 US.
That being said, I was pissed when they sold their company for $4. I believed in my soul with the way they were growing the business (slowly but surely), eventually, maybe 3-5 years, it would be over $10.
So why did they sell? They knew they were going to have a great 4th quarter. They knew the vagaries of the stock market mean nothing in the long term. Why sell? And at a price it was at before the pandemic no less!
No doubt they got a lot of stock in Well. But that is meaningless if they don't think Well is going to appreciate in price. Simply put, they realized the potential, huge potential, in Well. They also realized that being a part of Well would enable them to execute quicker.
Inasmuch as the people at CRH knew that CRH would do just fine on their own, they sold (again at a price it was at prepandemic) because they knew in the long run they would do better with their money being a part of Well and I think that they believed Well would appreciate further and faster than CRH.
That's the only reason I can think of, whether it's correct or not.