RE:RE:Read between the linesI'll second - no, I'll third that. The only upside to the update would have been a withdrawal from the deal but to do so even if they intended it would not be prudent - kind of like Biden saying he's too old to run again.
Combine this with the vagueness on asset sales and the drip surprise and you get the diffident response of the analysts who mostly mix their "meh" with significantly higher targets, suggesting they think there are more shoes to drop. As it appears now, there's little reason to buy when the forecast is so limited in so many ways.
rustyblades wrote: You're probably right. I think they have heard from shareholders loud and clear that this is a bad deal. Still a risk on interpretation of "best efforts"
Hungus wrote: They are not proceeding with the Kentucky Power purchase.
They have no intention of extending the sale deadline past April 26th. No chance, whatsoever, of the regulatory approval by that date. They haven't even refiled their application with FERC yet (they will, just delaying it as long as possible). Won't commit to naming any assets on the chopping block to fund this purchase either.
They are obligated to use "best efforts" to purchase KP by April 26th in order to only get dinged with the break fee. So, they cannot come right out and say "we are cancelling the deal" - that would not be "best effort" and they would get sued to high heavens.
AQN is just running out the clock, that's all. KP deal is toast. Market *should* be rejoicing right now...