Both stocks are/were significantly undervalued... the tough pricing in the Gulf is not going to significantly hurt earnings... it's just a matter to a few days, maybe Monday before HERO really turns the corner and heads back toward $32...
In the mean time... keep in Mind that $25.54 for HERO = $41.00 for Todco... .979 of each HERO share = $25.00 + $16 cash = $41.00...
Long on THE or HERO here... either way is a winner!
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