ok dutchman I have been off the desk all day but.....
look.... if I am buying my stock for 400% net after tax return and 10% of book value, and I am CEO of a public company.... I can do whatever the h3ll I want and I cancel my own self imposed spinoff IPO whatever you want to call this why???
*because I am a greedy ba$tard and want to own more of this awesome deal and that's how I do it. I have a duty to MYSELF and I want to maximize for myself so I do what's obvious to everyone.
the only reason they don't do it is because they cannot because they have no cash. outside of a major announcement to the contrary, there's no legitimate explanation why a company doesn't favor ludicrous shareholder returns via repurchase vs continuous share capital expansion (forever bumping of authorized shares) and conversion sales.
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