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Russ-neia 
Silver Level
Joined: 11 Sep 2009
Location: NE Iowa
Points: 489
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 Topic: Allis-Chalmers Energy
Posted: 07 Feb 2011 at 9:03pm |
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Just curious what other shareholders think on the merger proposal. Got my proxy materials today and not sure which way I'm going to vote (my vote is about as significant as spit in the wind, but I digress). Has anyone been keeping score on the lawsuits about the proposal? I too, think the negotiated price is too low, but wondering whether to opt for shares in the new company or just take cash and move on.
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Spud
Orange Level
Joined: 16 Sep 2009
Location: North Dakota
Points: 601
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Posted: 07 Feb 2011 at 9:08pm |
It looks like the oilfield will stay steady for a while.
If you don't need the $ right away, I would leave it in the new company and see what happens.
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EPALLIS
Orange Level
Joined: 12 Sep 2009
Location: Illinois
Points: 1141
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Posted: 12 Feb 2011 at 11:41pm |
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Vote NO. Way to low price and we need Allis-Chalmers Energy to stay independent. If you already voted you can always change it up until the day before 2/22/11. Thanks for your support!
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gleaner1
Silver Level
Joined: 17 Dec 2009
Points: 218
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Posted: 13 Feb 2011 at 8:18am |
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I am voting no also, as its would be a shame, AC not to be an American company anymore, should have sold the shares a couple weeks back though. I have no interest in SEAWELL
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ALLIS CHALMERS "The color is orange"
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DougG
Orange Level
Joined: 20 Sep 2009
Location: Mo
Points: 8200
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Posted: 13 Feb 2011 at 10:10am |
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Seawell will take the good stuff and leave AC in the dust - again ; its prolly the last time
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EPALLIS
Orange Level
Joined: 12 Sep 2009
Location: Illinois
Points: 1141
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Posted: 14 Feb 2011 at 9:52pm |
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Light a candle every night before the 23rd that the merger gets voted down. We need to keep the A-C name alive. This is our last hope!
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Bob-Maine
Orange Level
Joined: 11 Sep 2009
Location: Central Maine
Points: 922
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Posted: 15 Feb 2011 at 12:03pm |
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I'm goona vote NO on my huge block of this stock (10 shares). The price is way too low. I may be wrong but AC Energy will probably keep going up in value as our insatiable thirst for oil puts more demand on production. Bob@allisdowneast
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I used to think I was indecisive, but now I'm not sure.
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DougG
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Joined: 20 Sep 2009
Location: Mo
Points: 8200
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Posted: 15 Feb 2011 at 6:43pm |
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So what happens if the - NO- vote stands ; seems like all the management jumped on the -sell- wagon ; will there be new management brought in ? These guys will only be looking to sell it again , imo ; There should be money to be made in the oilfields ; maybe David Scott shoulda looked at that venue way back when
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EPALLIS
Orange Level
Joined: 12 Sep 2009
Location: Illinois
Points: 1141
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Posted: 15 Feb 2011 at 7:48pm |
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You're right, management wants to jump ship because they get a big payout. There are currently several lawsuits against them for errors and omissions. They are not bad people (I've talked to several of them), they just think this is a better route to go which of course I disagree with. It's really showing now that the offer on the table is less than the current market price. There are several large shareholders that might vote down the proposal (we can only hope). Anyway, thanks for voting NO, (10 shares or 10,000 shares) it all adds up.
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