Hi VMP, SPX holder here. Not here to troll or anything, just have a discussion with you. I for one think SPX are in trouble but at the moment I think both parties will suffer (financially) from this event. The fact a CA or NDA whatever you want to call it was signed by VMC and then SPX just so happened to grab said asset is extremely dodgy and based on evidence we have to date I think the decision will fall in favour of VMC. I might add, the statement in Adams article of "being there at the right time with the right deal" is a very very bad one and further signifies some wrong doings by SPX.
One thing I would say however is we don't know what Alex Hewlett (the guy coveting PW) was doing prior to the CA being signed by VMC and DJ Carmichael. If Patina (previous owners of PW) and now major shareholders in SPX come out and say we were in talks with SPX with regards to the sale of PW in the 18 month time period up until the purchase and prior to the signing of an NDA by VMC where do you think this leaves the case? Surely this has got to be a massive worry to VMC and shareholders? The previous owners of PW are now major shareholders in SPX (understandably) and they could hold the key if the testify that Alex Hewlett from SPX was in talks with them to acquire the project as much as 18 months prior to the sale?
Like I said, not here to troll or cause anger just trying to start a discussion. We are all shareholders here and we have a lot more to worry about than you guys at the moment. Just curious to get your take. In my opinion neither party should be confident in an outright win at this stage, the favour is just in VMC's hands.
Cheers.
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