Post by
Papagallo on Jan 25, 2017 2:30pm
.14 COQ Fair value to take private
Last option award was .14....CM owns directly/indirectly in excess of 85% of COQ. The amalgamation of 3 companies into a unique vertically integrated model was the basis for much enthusiasm and optimism. The management and staff continued to espouse this view well into 2015....well after KSA & OPEC announced their intentions to flood markets. Read the history of COQ NR's...it's all there....my belief is CMC determined at some point that minority shareholders were inconsequential, and decommissioning as wilfully diverted from COQ back to CMC. If that is true, it will come to light during a forensic accounting review, and would constitute breach of non competition contract and possibly fraud. It would make more sense for CMC to make a reasonable offer to remaining shareholders and return attention where it belongs.
Comment by
fagiani24 on Jan 25, 2017 3:31pm
I like that explanation. I never argue something that makes sense. But I guess we will see.