Looks Like Allis-Chalmers Energy is going down

Message Topic Search Topic Options Post Reply Create New Topic Printable Version Translate Topic

Found this bit of bad news from Google!

On August 13, 2010, Allis-Chalmers Energy Inc. (“Allis-Chalmers” or the “Company”)   
announced that it had agreed to sell the Company to Seawell Limited (“Seawell”) 
(NOTC: SEAW). Under the terms of the transaction, Allis-Chalmers shareholders will 
have the right to elect to receive either $4.25 in cash or 1.15 Seawell common shares 
for each share they own, subject to pro-ration if more than 35% of the shares elect to 
receive cash, placing the total value of the transaction at approximately $890 million 
(including assumed debt).

The investigation concerns whether the Allis-Chalmers Board of Directors breached 
their fiduciary duties to Allis-Chalmers stockholders by failing to adequately shop the 
Company before entering into this transaction and whether Seawell is underpaying for 
Allis-Chalmers shares, thus unlawfully harming Allis-Chalmers stockholders. In 
particular, Allis-Chalmers stock traded at $4.57 per share as recently as January 14, 
2010 and at least one analyst set a price target for Allis-Chalmers stock at $7.00 per 
share.

And here is a link to a news reporter.
http://www.youtube.com/watch?v=Lv7cjz2wET4

I dont know if this is good news or bad news!!

	This site is not affiliated with AGCO Inc., Duluth GA., Allis-Chalmers Co., Milwaukee, WI., or any surviving or related corporate entity. All trademarks remain the property of their respective owners. All information presented herein should be considered the result of an un-moderated public forum with no responsibility for its accuracy or usability assumed by the users and sponsors of this site or any corporate entity.
	The Forum	Parts and Services	Unofficial Allis Store	Tractor Shows	Serial Numbers	History

Author	Message Topic Search Topic Options Post Reply Create New Topic Printable Version Translate Topic
ACD19farmboy Members Profile Send Private Message Find Members Posts Add to Buddy List Bronze Level Joined: 11 Sep 2009 Location: Missouri Points: 162	Post Options Post Reply Quote ACD19farmboy Report Post Thanks(0) Quote Reply Topic: Looks Like Allis-Chalmers Energy is going down Posted: 16 Aug 2010 at 12:49pm
	Found this bit of bad news from Google! On August 13, 2010, Allis-Chalmers Energy Inc. (“Allis-Chalmers” or the “Company”) announced that it had agreed to sell the Company to Seawell Limited (“Seawell”) (NOTC: SEAW). Under the terms of the transaction, Allis-Chalmers shareholders will have the right to elect to receive either $4.25 in cash or 1.15 Seawell common shares for each share they own, subject to pro-ration if more than 35% of the shares elect to receive cash, placing the total value of the transaction at approximately $890 million (including assumed debt). The investigation concerns whether the Allis-Chalmers Board of Directors breached their fiduciary duties to Allis-Chalmers stockholders by failing to adequately shop the Company before entering into this transaction and whether Seawell is underpaying for Allis-Chalmers shares, thus unlawfully harming Allis-Chalmers stockholders. In particular, Allis-Chalmers stock traded at $4.57 per share as recently as January 14, 2010 and at least one analyst set a price target for Allis-Chalmers stock at $7.00 per share. And here is a link to a news reporter. http://www.youtube.com/watch?v=Lv7cjz2wET4 I dont know if this is good news or bad news!!

Sponsored Links