I am hearing rumors of an OFSE spinoff again. What is the latest?
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They are doing this to all product lines.
I feel like at a minimum, Drill Bits is aligning to get sold off. Lots of change in upper management recently, unrealistic cost cutting/inventory cutting measures. Feels like those on the inside caught wind, and were able to find other positions before it happened. And they're trying to get the product line as lean as possible to make it enticing for a sell off.
I've felt more of an OFSE selloff coming. But yes something seems to be happening.