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Allis-Chalmers Energy

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Category: Allis Chalmers
Forum Name: Farm Equipment
Forum Description: everything about Allis-Chalmers farm equipment
URL: https://www.allischalmers.com/forum/forum_posts.asp?TID=25411
Printed Date: 25 Feb 2025 at 12:26pm
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Topic: Allis-Chalmers Energy

Posted By: Russ-neia
Subject: Allis-Chalmers Energy
Date Posted: 07 Feb 2011 at 9:03pm

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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The innovators offer what others will imitate.

Replies:

Posted By: Spud
Date 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.

Posted By: EPALLIS
Date Posted: 12 Feb 2011 at 11:41pm

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!

Posted By: gleaner1
Date Posted: 13 Feb 2011 at 8:18am

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"

Posted By: DougG
Date Posted: 13 Feb 2011 at 10:10am

Seawell will take the good stuff and leave AC in the dust - again ; its prolly the last time

Posted By: EPALLIS
Date Posted: 14 Feb 2011 at 9:52pm

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!

Posted By: Bob-Maine
Date Posted: 15 Feb 2011 at 12:03pm

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.

Posted By: DougG
Date Posted: 15 Feb 2011 at 6:43pm

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

Posted By: EPALLIS
Date Posted: 15 Feb 2011 at 7:48pm

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.