RE:RE:New Seeking Alpha report If you look at what's happening you'll see the program. Starboard had a position a little while ago of about 5% and are now at 7.5%. These guys don't buy high to sell low. In fact they have accumulated while the AQN price was engineered lower. My guess is they are on the way to a 10% or higher stake. Helping to keep the share price low is helped by the underlying tone of a fight with management nicely encapsulated in the recent letter. That type of thing frightens away the institutional investors whose shares can be had inexpensively. Make no mistake the program is to buy low (now) and sell high later on. Are there any seasoned investors here who remember the "Greenmail" strategy first put forward by the Belzbergs?
Never fight the big boys as they always win. Figure out their strategy and go along for the ride. My guess is they accumulate at $11 or so with a view to pushing the program to divest the non-regulated and get the true multiple value of the regulated business. Plainly stated in their letter. Likely their work will get this back to $15 or higher. They don't hang around for long so likely no more than a year. So I'm holding my position and adding as I can afford to. Profit while the big boys do all the dirty work.