DryShips Inc (fka DRYS)

[Net-Man]

KR - The lock on GE's shares runs out. The belief is he will take measures to run the pps up because he could then sell shares. I disagree with that thinking. GE is about ownership, which means he will do things like the share buyback so his percentage of ownership increases. The DGAS spin off provides him the opportunity to pick up the gas ships unit on the cheap too. Consider that DGAS will have ~$160 million NAV when it comes to the market and only have 10-12 million shares that GE or DRYS won't own. GE could easily buy those shares on the cheap. For $25-$40 million he would fully own DGAS. Throw in the $80 million he put up in loans that secured his 72 million in DRYS, he would end up with DGAS for the combined price of $120 million or less making a $60-$70 million profit and own DRYS for zero.

GE has thought this chess match out and already knows he has won.