Hydro,
"It could be what you said, but my first thought is that they don't have enough votes to win, so you delay and work to round up enough votes to get them over the top."
O'Hara can't delay the vote, right? This would be PRE [if true ]. And, if so, it means that our rank and file aren't all that happy with the deal and that PRE /Alpha mgmt are finding that they are having to go back to the drawing board.
I have had multiple phone calls from the O'Hara group. They have been diligent in this effort, if nothing else. Have voted all my shares against the buyout. This is not January now, it's July. The E&Ps have been working to see how they will fit in the new environment. I suspect a number will go under. I think PRE is in good enough shape to be one of the survivors. As much as I'm pissed off at Pantin & Co. they are currently the top independent company in South America. I'd rather see them merge with GTE, which is in not that bad financial shape. For the rest of you here, do whatever you want, just as long as you vote 'no'<g>. T.I.A.
Dev