Re: Absurd, bizarre call it what you like
in response to
by
posted on
Jul 23, 2011 05:42PM
(PRESS PROFILE TAB FOR FACT SHEET & UPDATES)
I think I get it - this elimination of the poison pill is not a plot to take over the company and give short shrift to the current shareholders, maybe even take TDC private or incorporate it tout court under the Interinvest and/or Williams Creek wing so that Interinvest or WC can make a bundle for their shareholders and keep management. The share price, low as it is (not much higher than it was when the poison pill was brought in to protect the company against preditation due to the low share price) is not in danger of precipitating a ludicrous offer which cannot be refused by the small shareholders. In the absence of the poison pill some big shareholder will not take the opportunity to acquire a majority of the shares for a good price, then force through acquisition of the remaining shares for a lower price, which as we know was prevented by the poison pill. Rather, it is an effort to lift up the share price, and obtain financing at better terms so we can get on with the show, because the poison pill was keeping out bigger investors who may want a piece of the action but aren't necessarily interested in taking over the whole shootin' match but want some freedom to make decisions and have influence about how their capital should be used. This means that bank loans or cash financing from investment firms will be easier to obtain since the company is open to being in play. Despite the share price dropping a whole cent yesterday immediately after the announcement of the poison pill elimination, we can still trust that now might actually be a good time to load up the truck, since the share price is very likely to go up quite a ways, and in the end a mine will develop out of the current stalemate. Do I really get it, or is there still some doubt among us? Am I missing the light at the end of the tunnel and, mired in darkness, beginning to lose my footing and stagger into sinkholes? Or what? Ike