Originally Posted by Nevets

I've done it several times here but I'll go through it again. CAL spun off XJT to make some money. They sold it off at $16 CAL/XJT werent able to come to an agreement again, CAL threatened to use their 25% removal clause. XJT called their bluff and CAL proceeded by announcing the removal of 69 aircraft. Except that if CAL did that, XJT had the first right of refusal on those aircraft. That gave birth to XJT's branded flying, the charter department, and the DAL CPA & pro-rate flying. Of course, shortly thereafter the price of oil reached $147 per barrel and there wasn't even a chance to see if it would work after that.




Did you calculate that $50M before or after the reverse stock split?