Comments on: Puget Energy Merger Approved and Review http://www.oldschoolvalue.com/special_situation/puget-energy-merger-approved-and-review/?source=rss Excel DCF Stock Valuation Spreadsheet and Calculator Wed, 17 Mar 2010 01:07:12 +0000 http://wordpress.org/?v=2.9 hourly 1 By: Jae Jun http://www.oldschoolvalue.com/special_situation/puget-energy-merger-approved-and-review/comment-page-1/#comment-1313 Jae Jun Fri, 23 Jan 2009 17:55:05 +0000 http://www.oldschoolvalue.com/?p=295#comment-1313 Merger closing on track. PSD debt financing complete. <a href="http://www.businesswire.com/portal/site/google/?ndmViewId=news_view&newsId=20090123005531&newsLang=en" rel="nofollow">Press release</a> Merger closing on track.
PSD debt financing complete. Press release

]]> By: Jae Jun http://www.oldschoolvalue.com/special_situation/puget-energy-merger-approved-and-review/comment-page-1/#comment-1269 Jae Jun Sat, 17 Jan 2009 20:44:38 +0000 http://www.oldschoolvalue.com/?p=295#comment-1269 "PSD: To ensure that shareholders continue to receive dividends at the current rate until closing of the merger, Puget Energy plans to pay a special pro rata dividend based on the number of days from the last regular dividend record date (Jan. 21, 2009) until the closing date of the merger, payable to shareholders of record as of a date prior to the closing to be established by the board of directors" <a href="http://www.businesswire.com/portal/site/google/?ndmViewId=news_view&newsId=20090116005295&newsLang=en" rel="nofollow">News link</a> “PSD: To ensure that shareholders continue to receive dividends at the current rate until closing of the merger, Puget Energy plans to pay a special pro rata dividend based on the number of days from the last regular dividend record date (Jan. 21, 2009) until the closing date of the merger, payable to shareholders of record as of a date prior to the closing to be established by the board of directors”

News link

]]> By: MKL http://www.oldschoolvalue.com/special_situation/puget-energy-merger-approved-and-review/comment-page-1/#comment-1256 MKL Wed, 14 Jan 2009 20:54:03 +0000 http://www.oldschoolvalue.com/?p=295#comment-1256 Heh! Guess I might not understand either... Just trying to reassure myself. Just fearful in my greediness. Thanks for your comment. Heh! Guess I might not understand either… Just trying to reassure myself. Just fearful in my greediness. Thanks for your comment.

]]> By: Jae Jun http://www.oldschoolvalue.com/special_situation/puget-energy-merger-approved-and-review/comment-page-1/#comment-1255 Jae Jun Wed, 14 Jan 2009 17:30:25 +0000 http://www.oldschoolvalue.com/?p=295#comment-1255 Hi MKL, I dont understand what you mean by "to understand and feel some certainty in this risk"? As for insider selling, it bears no risk or influence on the fact of the merger. If he did sell because he knew something, he'd get caught for insider trading. Hi MKL,

I dont understand what you mean by “to understand and feel some certainty in this risk”?

As for insider selling, it bears no risk or influence on the fact of the merger. If he did sell because he knew something, he’d get caught for insider trading.

]]> By: MKL http://www.oldschoolvalue.com/special_situation/puget-energy-merger-approved-and-review/comment-page-1/#comment-1254 MKL Wed, 14 Jan 2009 15:27:58 +0000 http://www.oldschoolvalue.com/?p=295#comment-1254 Hi Jae Jun, I have been trying to investigate this PSD purchase to understand and feel some certainty in this risk. Consequently, I am searching for suspicious bits of interest. What do you think of Stephen P Reynolds selling ~1,400 shares recently (reported the 6 January 2009) at $27.30, if he knows that the sale is going to go through shortly at $30? 6-Jan-09 *5,622 PSD Option Exercise at $27.30 per share. (Cost of $153,480) 6-Jan-09 *1,406 PSD Disposition (Non Open Market) at $27.30 per share. (Value of $38,383) 2-Jan-09 768 IN Acquisition (Non Open Market) at $13.01 per share. (Value of $9,991) Hi Jae Jun, I have been trying to investigate this PSD purchase to understand and feel some certainty in this risk. Consequently, I am searching for suspicious bits of interest. What do you think of Stephen P Reynolds selling ~1,400 shares recently (reported the 6 January 2009) at $27.30, if he knows that the sale is going to go through shortly at $30?

6-Jan-09 *5,622 PSD Option Exercise at $27.30 per share.
(Cost of $153,480)
6-Jan-09 *1,406 PSD Disposition (Non Open Market) at $27.30 per share.
(Value of $38,383)
2-Jan-09 768 IN Acquisition (Non Open Market) at $13.01 per share.
(Value of $9,991)

]]> By: Jae Jun http://www.oldschoolvalue.com/special_situation/puget-energy-merger-approved-and-review/comment-page-1/#comment-1235 Jae Jun Sun, 11 Jan 2009 05:34:33 +0000 http://www.oldschoolvalue.com/?p=295#comment-1235 But the argument against the 15 commitments is that they are not new commitments. All 15 are part of the original 63 with additional clarifications. Nothing has been included or modified drastically so if the buyer and PSE have already agreed and no one has filed for a rehearing or clarification, doesn't that mean all parties understand the deal? I'm not so worried about the 15 points but more about whether the deal will get delayed if someone files a court challenge. But the argument against the 15 commitments is that they are not new commitments. All 15 are part of the original 63 with additional clarifications. Nothing has been included or modified drastically so if the buyer and PSE have already agreed and no one has filed for a rehearing or clarification, doesn’t that mean all parties understand the deal?

I’m not so worried about the 15 points but more about whether the deal will get delayed if someone files a court challenge.

]]> By: Josh http://www.oldschoolvalue.com/special_situation/puget-energy-merger-approved-and-review/comment-page-1/#comment-1232 Josh Sun, 11 Jan 2009 00:22:54 +0000 http://www.oldschoolvalue.com/?p=295#comment-1232 It does not look like smooth. I've been concerning about these additional 15 commitments. Some of them gave WUTC lots of power on new entity. I guess by Monday morning, there will be a PR to report that it will comply or why there will be a delay, which may cause price drop .... It can be another opportunity to pick up shares or run away pending on the reasons. It does not look like smooth.

I’ve been concerning about these additional 15 commitments. Some of them gave WUTC lots of power on new entity.

I guess by Monday morning, there will be a PR to report that it will comply or why there will be a delay, which may cause price drop …. It can be another opportunity to pick up shares or run away pending on the reasons.

]]> By: Jae Jun http://www.oldschoolvalue.com/special_situation/puget-energy-merger-approved-and-review/comment-page-1/#comment-1223 Jae Jun Sat, 10 Jan 2009 09:48:00 +0000 http://www.oldschoolvalue.com/?p=295#comment-1223 "Deadline passes for Puget Energy filing" Neither Puget Energy Inc. nor the attorney general's public counsel office filed with the Utilities and Transportation Commission Friday to ask for a rehearing or clarification of a UTC order approving the sale of the Bellevue-based utility to an Australian-Canadian consortium. Friday was the deadline for such filing. Participants have until Jan. 29 to file a court challenge to the ruling. http://seattlepi.nwsource.com/business/395545_bizbriefs10.html This could mean the deal wont close until Jan 29?? “Deadline passes for Puget Energy filing”

Neither Puget Energy Inc. nor the attorney general’s public counsel office filed with the Utilities and Transportation Commission Friday to ask for a rehearing or clarification of a UTC order approving the sale of the Bellevue-based utility to an Australian-Canadian consortium.

Friday was the deadline for such filing. Participants have until Jan. 29 to file a court challenge to the ruling.

http://seattlepi.nwsource.com/business/395545_bizbriefs10.html

This could mean the deal wont close until Jan 29??

]]> By: Dividend Growth Investor http://www.oldschoolvalue.com/special_situation/puget-energy-merger-approved-and-review/comment-page-1/#comment-1216 Dividend Growth Investor Fri, 09 Jan 2009 13:56:37 +0000 http://www.oldschoolvalue.com/?p=295#comment-1216 Based on my experience with Anheuser-Busch deal, most people got the $70 buyout price per share plus the dividend that was expected to be paid in the fourth quarter. If the board has announced that it will pay it at a particular date, most likely than not they will. <abbr><em>Dividend Growth Investor’s last blog post..<a href="http://feeds.feedburner.com/~r/DividendGrowthInvestor/~3/475690776/dividends-and-great-depression.html" rel="nofollow">Dividends and The Great Depression</a></abbr></em> Based on my experience with Anheuser-Busch deal, most people got the $70 buyout price per share plus the dividend that was expected to be paid in the fourth quarter. If the board has announced that it will pay it at a particular date, most likely than not they will.

Dividend Growth Investor’s last blog post..Dividends and The Great Depression

]]> By: Ken http://www.oldschoolvalue.com/special_situation/puget-energy-merger-approved-and-review/comment-page-1/#comment-1204 Ken Wed, 07 Jan 2009 15:20:28 +0000 http://www.oldschoolvalue.com/?p=295#comment-1204 I would not be surprised if we do. The quarter ended Dec. 31st and the deal had not yet commenced so it would only seem right that shareholders collect a dividend for that quarter. But given the choice of dividend and waiting vs no dividend w/quick closure I would take the later. <abbr><em>Ken’s last blog post..<a href="http://compoundinglife.com/?p=34" rel="nofollow">PSD: Dividend announced</a></abbr></em> I would not be surprised if we do. The quarter ended Dec. 31st and the deal had not yet commenced so it would only seem right that shareholders collect a dividend for that quarter. But given the choice of dividend and waiting vs no dividend w/quick closure I would take the later.

Ken’s last blog post..PSD: Dividend announced

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