RE:Too bad GMT didn't announce a month agoThey should of just offered a buyout at $3.50 and called it a day. The problem was they probably could not of got the financing.
There were too many unknowns for the average Pipestone shareholder to digest:
Nine percent of an amalgamated company that was yet to be made public (and only 9 percent would be on the open market).
Then there was the unknown price of the eventual IPO.
They probably thought that oil prices would stay suppressed before the vote deadline arrived.
But the runnup in WTI to over 90$ put a wrench to their plan. They must of anticipated 90$ only in November when the heating season would of began.