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Three weeks ago, I wrote an article on the proposed merger of Crystal Springs Land and Loan(CSL) and Crystal Spring Virtual Capital (CSV). Supplementing that article was list of my concerns with specific terms governing the proposal set forth by CSL/CSV CEO Skip Oceanlane.

Apparently, it's no longer an issue.

According to a reliable source, CSL/CSV shareholders received the following in-world group announcement earlier today:

Please be advised that the public merger offer between Crystal Springs Land and Loan (CSL) and Crystal Springs Virtual Capital (CSV) has been withdrawn. The meeting scheduled tonight has been canceled. I will be in contact with shareholders over the next few days as to what will happen next. Please be assured that everything will work out fine :-) Thank you for your patience.

Skip Oceanlane, CEO
Crystal Springs Land and Loan Crystal Springs Virtual Capital

A search of the VSTEX Forums and the Crystal Springs Virtual Capital General Information Page for similar notification yielded no such announcement.

Most intriguing. After a trading halt that has lasted for upwards of a month, the merger is suddenly withdrawn hours before shareholders are to vote on the terms of the proposed merger?

Since I criticized the aforementioned proposition based on its terms, most notably CEO Oceanlane's retention of his right to vote on the merger with owner shares, perhaps I should be inclined to commend the recension of the proposition. But I am not and I won't. It did come hours before shareholders were to chime in. Why not simply abstain from voting and let the shareholders make the final call?

Perhaps it is just me, but this bodes ominously.

Update

CEO Oceanlane has announced that he is taking both companies private. Rather than treating you to lengthy analysis of Oceanlane's announcement, I'm simply going to say that given everything we've seen in the last few months, I wholly approve of this decision. And if the conga line that has formed on the beach surrounding VSTEX Headquarters is any indication - I'm not alone.