December 1st, 2015. "The Board of Directors is negotiating amendments to the transaction documents and will advise of the outcome of negotiations as soon as complete"
3.5 months later, and I'm still waiting to see these amendments. The time it's taken to amend these simple transaction documents has costed us $5M~ in salary pay and cost of lawyers in this time.
They've only just recently gone on to state that they've reached out to other parties.... JV's, etc.
Good, so they must have the amendments available? What are AZZ proposing to these other parties?
Or are they just proposing the same $250M sale? It really doesn't add up.
AZZ Price at posting:
50.0¢ Sentiment: Sell Disclosure: Held