Agreed.
Given that WesTrac's revenue stream can all but evaporate at only 90 days' notice, ACE's 1-year guarantee doesn't provide all that much protection for SEV holders. If the Caterpiller relationship were to become terminated, Stokes would have to cancel $130m worth of shares, yet he would retain 100 million extra shares given to him for selling a business with no potential to produce money.
deal concessions not high enough, page-2
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