RE:RE:RE:RE:RE:RE:RE:Still think...I am a capital markets guy at the 10000 foot level looking at oil and gas stocks so I don't delve into the details like you do, not that that is bad----that is your area of expertise . All my IPO shares were derived from predessor co. Anderson convertible bonds . Some are in a registered account others not. All have low cost base . A couple of years I sold some in registered account about 5.40. Tax implication for non registered is too great to sell. The dividends allow me to diversify away from IPO , however on a given day if the price is right I would not hesitate to buy more. While there is logic in consolidation re areas things get in the way like egos , tax issues, merger costs , termination costs to name a few.