I'm guessing ATL probably isn't selling because the money is trivial to them and it would be bad optics worth more than the trivial amount of money.
After they got royally screwed by AGY I'm sure they have no love or loyalty (and the incredibly bad optics of AGY robbing ATL blind is something most folks here don't want to acknowledge), but selling out now just openly says "We here at ATL are idiots, we made a mistake, and also we are not loyal" which isn't worth the little money they would salvage.
It really is amazing that AGY had the nerve to sell to ATL at a significant premium when they clearly would have known the plant was about to be shut down and all the staff fired etc. That shameless move shows the quality of AGY and is a massive indicator of who they are and what to expect. Short term trades I can understand, but you'd need dirty, low quality rocks in your head to hold a long term investment in this company after their history including that move. If they'll do that to ATL, what do you honestly expect to happen next?
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