BYG I would consider your post to be objective and well...

BYG
I would consider your post to be objective and well considered
as a past long term substantial AZZ shareholder I am watching this game unfold
I have read aussiehallos many many posts and question who he actually is?
my first readings were that he was a new day trader but from more recent posts I suspect he may be either a broker and/or someone close to the AZZ camp?
He seems to have let is guard down over the last few days?
anyway regardless of his status the reality imo is that this deal wont complete on the announced terms
why would the buyer with the poo continuing to fall wish to complete?(there are so many other oilers struggling who could put forward better deals to the buyer)
despite AZZ saying there are no conditions precedent(that is bs ..otherwise it would have completed, or AZZ would have announced that they are taking legal action to force the buyer to complete) the buyer is in control of this deal!!!!
so reality is either AZZ accepts what ever the buyer offers(which imo will be ,at best, around 50% of the original price) or walks away and AZZ has to deal with its bankers and creditors
if second position unfolds than imo there would have to be a real likelihood of administrators being appointed as the company would be technically insolvent and unable to pay its debts "as and when they fall due"
(imo the comments posted on this thread re shares having a value of 50c are useless as the sp pre suspension was created by day traders and speculators)
for all the talk that JC has his own interest at heart this deal and the future of AZZ is far bigger than him
there have been many larger companies fail despite the best efforts/intentions of their CEO, particularly when the commodity you are selling is "on the nose" as oil is at the moment
(refer to Nathan Tinkers coal empire)
and if anyone doubts how far the price of commodities has fallen who 3 months ago would have said/bet that BHP shares would be able to be bought at sub $19
make no mistake this is a buyers market,big time, and unfortunately,as the days have unfolded AZZ doesn't have a watertight deal and imo the buyer(and not AZZ) will determine if a deal proceeds,and if it does,it will be on the buyer's terms and not AZZ terms
the AZZ assets may(?)have long term value IF the poo improves but AZZ have backed themselves into a corner and haven't the luxury of waiting for the price to turn
good luck to all holders