Iron ore price, page-4123

A buy back is not a gift to the seller. Especially if the shares are undervalued, it's a smart move by the buyer.

As the shares in circulation reduce, even if the market cap doesn't budge, the remaining shares in the market appreciate proportionately.

In fact I'd predict the share appreciating SIGNIFICANTLY more than proportionately.

So if revenge is your dish old boy, then Legg Mason will look like donkeys.

But what actually matters is that shareholders will be winners. AND, a boosted AGO, freer from encumbrance, will have more power in the financing markets going forward.

Could be the kick off to a beautiful win-win.

Thoughts anyone?