buyback!, page-11

They may pay less. Share buybacks never lift the SP, really, or they're not supposed to. There are regulations about how much the company can pay for their own shares, and with a declining share price, it would also be a declining buyback price. I just gave the example, but DTE probably needs to hoard all the cash it can for its business, I think.

With 736m shares on offer, and with the declining SP, DTE could do a 2 to 1 consolidation, I suppose- to put a bit of muscle back into its share price. OZL consolidated (I was a holder at the time and didn't like it), and is doing a 10% buyback, too. It has 309m shares on offer now. It also has a dividend so maybe the buyback does benefit holders- fewer shares get more dividends? Dunno about that- I don't hold OZL by the way. OZL's buyback is costing $200m. A huge amount of money, but they HAVE a huge amount of money. Hard to know how much DTE will have with this IPO preparation- how much is it costing?