Stelco Holdings Inc T.STLC

RE:Issuer Bid

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Very thoughtful post.  Thanks for sharing and please share more often!!  Over year is long time to be stranger!  
The relationships and close relationship between Bedrock  and Keatenbaum is unclear.  Lindsay Goldberg founded private equity firm in early 2000 and kestenbaum integral in forming bedrock 5 years ago or so.  Your hypothesis makes sense.  Lindsay Grahma may have much bigger fish to fry and want out of Stelco.  Kestenbaum may see a much better future sticking around so he structures this deal to give them a way out.  However like most traders he doesn't want to pay too price so set it at 31  -  37 which is in range of last buy out of 35. Clearly this shareholder is ok exiting at this price.  Kestenbaum would have more intimate knowledge of Stelco operations whereas Lindsay Graham would be more removed.  I think makes sense to stick with CEO here and if Stelco does one of those crazy dips just buy it.  I have set my own threshold at 5 percent drop to buy.  Provided steel futures continue to hang in there no reason to sell here.  I Like the CEO having so much skin in the game.  That I think is key and learned from my mistakes in past that key indicator of success is CEO has to have large stake in company he runs and that is what we have at Stelco.  I don't think any other steel has ceo owning so much stock.