RE:More CommentsI believe the negative investor reaction is not from buying the shares but not allocating the buyback equally between both classes of shares.
I realize the earnings per share leverage is the same but only 500k of the 2.7M shares were the SVS.
If you take out 1.35M shares from both the MVS & the SVS, it removes bigger chunk of the trading shares and makes the trading float tighter.
I am somewhat surprised that the board approved the sale in this manner.
My opinion only, maybe pullback will turn out to be a buying opportunity.
We'll see.