I mentioned today that I think SEA will be getting a bargain, which they did.
TXN are an exploration company who aren't set on developing their own assets, more-so starting things from scratch in new plays.
Agent,
it says Talon "retains all non-EFS assets", which includes cash (I'm assuming anyway).
It states the Merged company has $163 million cash on hand at 30th of September 2012. SEA had $163 million cash on hand at this time.
SEA got a bargain, but considering how ridiculously bullish I am about SEA, I suppose I see more value in this merged company than others.
SEA's presentation says "the combined entity will be well funded for further acquisitions and development", so in other words this doesn't impact the 1301 tax rule it says, but future acquisitions will (in the time frame).
TXN Price at posting:
36.0¢ Sentiment: Hold Disclosure: Held
