Big Banc Split Corp T.BNK

Is there a way to organize a "No" vote?

[outdawazoo]

I am long 72,000 shares, and deep underwater.  Although I was pleased to see the share price jump with the offer, it has been flat since then.  And since the offer, many oil stocks are up 25%+.  I suspect that without the offer, that the price would be near where it is now.

I dont' think the premium is that much anymore and if the deal fell through that the price wouldn't fall much.  If the oil price does indeed get to $60 in the near term as many analysts predict, this has to be a $5.00 stock.

So I would be surprised if other companies are not interested in this asset.

I am thinking of voting "No" for the acquisition, but my share is a mere drop in the pond.  Is anyone aware of dissenters that feel the same way?

[braincloud]

I think you are delusional! Do yourself a favour and plot a chart over-laying BRENT and BNK. When Brent was $50 -$55 BNK traded $1.83-2.60 but mostly traded around $2 give or take .20. Oil is at $45, so if you think that the stock wouldn't drop if the deal goes away I think you are sadly misguided. Don't be surprised.

[ChupacabraBueno]

taking a loss isn't fun, and some others will share your thinking. But they will be greatly outnumbered by those holding the 100s of millions of shares that traded below $2.20; that are happy at the prospect of a high probability gain. Many that are under water at $2.20 will be glad to minimize their loss and move on. If you don't buy into the "lower for longer" oil scenario you

[braincloud]

Right on, taking a loss isn't fun. I'd say the bet isn't over if you are talking about OIL. I'm down as well but am already starting positions in other names. This sucks for sure but if you weren't in BNK you probably were in another name that got beat up just the same or worse. IF oil does continue, which I suspect it will, then there's a ton of money to be made. Drive on

[ChupacabraBueno]

Brian, t's another up day for oil, despite oversupply. I'm not expecting $60 anytime soon, but I expect you're fight that there's money to be made. What are the names you like?

[braincloud]

Not sure if you are asking me or not. I'm BC, not Brian. LOL. I'm long a small position in CNE and looking at GTE and AOI for something similar to BNK. AOI is more of a developing resource play but GTE and CNE are interesting. CNE is more like a utility with some great margins on NATGAS and GTE has an overhang with some royalty dispute that could cost them $60 million. I think it's

[ChupacabraBueno]

BC, Brian was a typo. Yes, I was asking & I'll take a look - thanks!

[whippet]

Yes.    you should ask the PRE shareolders. They have some experts in that field.