I think that this move from STX suggests that the SCBGP may be dead in the water. If STX was confident that that commercial success was in fact imminent, why would they not have waited a month which a much higher share price requiring less dilution, to then make a move on what are very speculative UIL prospects and accompanying capital raise. In my opinion, this takeover is a distraction from the SCBGP and a move by STX management to keep on going on for the case that the SCBGP is not commercial. Good luck to all.
UIL Price at posting:
6.0¢ Sentiment: None Disclosure: Not Held