I personally sold all of my holdings on the day of announcement, for reasons I will provide. As I post that afternoon I had too many questions that I wanted answered, regarding structure and the staffing increase they would need to monitor and implement this kind of partnership.
I am still a holder through my SMSF (hence my LT buy) and have many years for the potential to pay off, so I'm not worried there. I sold my personal holdings simply due to the current environment and being one of those ACL holders who got burnt recently. Take it when you can in the current environment I say, the world is not what it was when we were all LT investing.
Anyway I believe that this deal is the best and strongest management could do with all the volatility in the Euro Zone, I also agree that this will return the best value to the company and in turn the shareholders in years to come. As for some of the comments saying management needed to do more or say more I think this may just be coming from frustration as they did what they had said, deal is signed.
GL all, sorry to be posting a parting one but this market is telling me I should and so I will do.
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