W2007 Grace Acquisition I, Inc. (fka WGCBP)

[trepanne]

That's me - cybersquatting on this user ID internet-wide since 1997. Haven't been terribly active on message boards for the past several years.

As you can see my taste in securities investments hasn't improved, as evidenced by this nasty beast.

I'm well familiar with Goldman's heinous tactics in this particular issue... my first lot from Dec 2009 has a cost basis of $0.30/sh (!) - just 100sh so they would mail me the FS, which were among the freakiest I've ever reviewed. I would dearly love to be a fly on the wall at the meeting of the board where they said, "Hey I've got a swell idea for enhancing shareholder value - how about we give away 99% of our assets to an affiliate in exchange for... hey how 'bout those Mets?!"

And then of course the strongarm share repurchases to which you refer... which means they'll be paying themselves the $26/sh for much of the outstanding... which means that a good chunk of the settlement amount will be shifting from their left pocket to their right, since GS is sitting on both sides of the table. Not to mention the value of acquiring a nice control position in the fulcrum security here to block unfavorable outcomes.

You have to admire Goldman's tactical skill, but it is a dishonorable way to treat one's investors. Not to mention blatantly illegal, but they're going to get away with it, I'm sure.

I wouldn't worry too much about your sale getting reversed - FINRA and DTC are going to completely ignore the record date declared by the company; what's actually going to matter is the effective date of the merger reorg action, if and when it comes off.