These guys have taken there catfight beyond Stockhouse.

This article was posted a day or so ago but look at the comments below the article

Still Looking for buyers

(3 votes, average: 8 out of 10)

Loading ...

There’s still no word from Look Communications on how many organizations are interested in buying the Milton, Ont., service provider’s assets. Company spokesman Peter Block said that offes under the court-ordered controlled sale had to be in by Feb. 16 and were frozen. However, after March 9 offers could be pulled off the table. So the status now is that “discussions are continuing between the monitor, the company and bidders,” Block said today.

Look is trying to see if it can do privately what it says it couldn’t do publicly – sell approximately 90 MHz of wireless spectrum, a network between Toronto and Montreal delivering Internet service to some 30,000 subscribers and about $300 million in tax losses.

Block wouldn’t say how many bidders there are left, other than to note that with bidders free to withdraw, the process could have been finished. It obviously isn’t. “For the monitor (accounting firm and advisor Grant Thornton Ltd.) and the company to be reviewing bids there must be something out there,” he said.

On the other hand, he added that there’s no guarantee Look will be satisfied with any offer(s).

The company, headed by former Bell Canada Enterprises executive vice-president and chief financial officer Gerald McGoey, is a subsidiary of publicly-traded Unique Broadband Systems Inc. of Milton, Ont., of which McGoey is chairman and CEO.

Any deals have to be approved by Look’s board and the Ontario Court of Justice, which approved the sale process.

Add to: del.icio.us | Digg IT | Furl | Google | magnolia | StumbleIT | Wink | Yahoo! Technorati

Posted on March 10th, 2009 by Howard Solomon and filed under Uncategorized |

2 Responses

1. Sher Says:
   March 10th, 2009 at 5:14 pm

   Read the UBS Inc Stockhouse Bullboard Howard. You’ll find some tidbits there.

   This is and I am,

   The Sure Bet Too

2. sb2_ Says:
   March 10th, 2009 at 9:22 pm

   Good article and research Howard. Thanks.
   sb2_

   PS. Pay no attention to the previous poster “Sher”. You can thank me later.