I think LNC is a great company but the writing is on the wall with this deal. I sold down the majority of my holding but retained 20% on the chance it does go through but lets consider the following:----
The company is asset rich but cash poor Asset prices are plumeting Credit has dried up worldwide Companies like woodside, BHP and shutting down projects Deal promised before xmas, now company is asking for more time
I believe LNC has a great future with or withhout the deal but share price will be hammered if deal does not go through
I hope Peter can pull one out of the hat but I'm looking for re-entry around $1
LNC Price at posting:
$1.75 Sentiment: None Disclosure: Not Held
