09-14-2016, 06:20 AM
Since it is the 10 day average price ending the 2nd day prior to the closing date, the key is: what is the closing date ???
If it is the end of September as some have suspected based on the Yukon court calendar, then roughly the last 2 weeks of this month will be used in the calculation.
I certainly like this deal (vs the OSH deal) in that we get a 'currency' (XOM stock) that can be easily sold without moving the market, and, it is 'fixed' $45 - not a fixed number of shares (as was the 1st offer).
That being said, it would not hurt my feelings if the final vote was "NO" - but, I am resigned that IOC is gone.
And, not to beat a dead horse, I hold Hession responsible for the fire sale since all the time he claimed that IOC was "cashed" up and to expect the big check from TOTAL, he knew at some point that it was going to drag out. And, much of the dragging out of the time line was directly related to drilling issues - which he owns!!!! (much as he wants to pin it on substandard equipment).
If it is the end of September as some have suspected based on the Yukon court calendar, then roughly the last 2 weeks of this month will be used in the calculation.
I certainly like this deal (vs the OSH deal) in that we get a 'currency' (XOM stock) that can be easily sold without moving the market, and, it is 'fixed' $45 - not a fixed number of shares (as was the 1st offer).
That being said, it would not hurt my feelings if the final vote was "NO" - but, I am resigned that IOC is gone.
And, not to beat a dead horse, I hold Hession responsible for the fire sale since all the time he claimed that IOC was "cashed" up and to expect the big check from TOTAL, he knew at some point that it was going to drag out. And, much of the dragging out of the time line was directly related to drilling issues - which he owns!!!! (much as he wants to pin it on substandard equipment).