RE:RE:View of the Acquisition by the Bond Rating PeopleTrue, but in the PR they seem to indicate that they still intend to deleverage and that borrowing to buy out Total is a blip in their deveraging plan.
Frankly, the market reaction was what I had expected based on the promise to raise the dividend by 10%. In hindsight, I regretted pulling my finger off the trigger when it briefly dipped below 40 at the open but one of my buys in the last few days was also up about the same amount today so as the song goes..don't cry for me.
I guess through all this, I can't help but wonder what they could have done elsewhere if they were willing to spend 5-6 billion. Guess we will likely never know!! When I see that my investment in the private company that I have talked about will likely have new investors to take it to the next level by the end of next month. The price they are paying represents a valuation 1500% higher than my price to get in. I can't help but wonder what SU could be doing with far greater resources like money and expertise.
Instead they are doubling down on oil and one can only hope that Migraine's view of the future is what happens and even then, I doubt they will get a 1500% return.
Opportunity lost for shareholders?
I think so. Sad but true INHO.