offer extended, page-2

I still don't see this as a good sign. There were lots of people disagreed on previous threads, but no one posted any possible advantage to FML in this continued extension, assuming that their take over plans was going as planned.

They can not get enough to forcibly acquire Stone's holding, so either they need to clean up more small share holders to de-list, or they are determined to get 100% rather than sit on 85% with the advantages outlined in previous posts. I am concerned about any scenario with Stone holding a significant amount of FML, as they don't look like the sort of wait and hold outfit, and if they were selling FML we would have a long term damper on share price. I am even more concerned that FML are going to up their offer to Stone, particularly using some of their cash.

Because of the above I have changed my sentiment to hold, close to sell, because even if FML is a long term buy, the near term price will be weaker or capped, while investing the money in a GOLD ETF would produce much better mid term gains with less risk. Buy back FML when they have sorted out this take over and any change in implied value or cash.

In the mean time there is this big unknown on what benefit they will get from continually extending their offer, and in the current market I feel any additional uncertainty in a company will be punished. I know this sort of opinion is not received well on HC, and would love for someone to prove me wrong by explaining the benefits to us shareholders in keeping this offer open indefinitely. As opposed to locking in 85% of CRE and waiting for Stone to come to us to get their money back at a discount. Now it seems like we keep giving them the initiative.