MMX seems intent on digging a big hole and is keen to get every one in it. Paul Kopejtka continues to hold the line that CHM claim is without foundation and wants the matter brought before the court asap, but MMX and its co-defendants have be keen to thwart CHM from having its day in court.
Now with a poor sp MMX is looking desperate in opting for a merger with MIS which will see MMX share holders stake being only about a third of the combine asset. It seems improper haste for a company that Merryl Lynch was looking to value at $13 as a stand alone entity.
What is the logic of rushing into this merger. Why not get CHM's 'without foundation' claim crushed in court and get the sp up to Merryl Lynch's target price and then merge/takeover MIS at a better beneficial arrangement to MMX share holders ie 2 MIS shares for 1 MMX share. As I understand it MIS hasn't even produced any IO and is very much the junior entity.
CHM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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