Do you want what $BX offered you? $19.50/sh
Or do you want the same $26.25/sh as the management team?
Sweetener on the way?
I would like to hear the rationale
Morningstar note highlights some interesting 1Q conf call quotes by the CEO.
Shouldn't ALL $TGE Class A shareholders get the same offer price?
In the name of #Governance, there should be pushback to the price non-management $TGE shareholders are getting.
If the $BX sideletter w/ $TGE has not been altered/nixed...it'd be a TERRIBLE look to offer investors a 26% discount to what mgmt gets on the SAME shares.
It will be yet ANOTHER bullet point on the list of LPs taken advantage of by GPs
And yet ANOTHER reason why generalist investors have abandoned the energy sector and left it to die
Not Up-C Corps, which are basically MLPs with a 1099 tax form
For the rest of you sellsiders, here's your chance to shine. So far, Morningstar is the ONLY one calling out the lowball offer for non-mgmt shareholders
"Side Letter Agreements Unpalatable" 🔥
"In the absence of some justification this insider feature would be an Animal Farm result for common holders" 🔥
(Pls contact ur Baird sales rep for more info 😉)
Is this lowball offer for @TallgrassEnergy $TGE shares (outside of what mgmt gets) part of that "global ESG initiative"
Let me know. Thx