Investors are not convinced the deal will proceed and are therefore dumping the stock.
Additionally, investors aren't willing to buy at a lower price to the takeover offer, because they don't see the transaction taking place.
If there was overriding support and belief the deal would proceed, investors would be loading up for the quick gain and/or averaging down.
The fact is the deal stinks... 100s of millions have gone into these projects and that's what we get as an offer.
GV is trying to scare everyone into accepting, mainly due to his incompetence.
Sadly, it means little for him either way. He has taken his salary and will walk away whilst we hold the losses. We should have never been put in this situation.
It is gross negligence and shows how little regard they have for the capital reserves of the company. In retrospect, we all saw the ever diminishing funds.
If this isn't a lesson in frustration and the fat cat culture of US... I don't know what is.
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