"The HOA (heads of agreement) is not intended to create a binding commitment, but rather evidences the parties’ mutual willingness to work together in good faith within the 40 business day exclusivity period in order to consummate the acquisition contemplated by the HOA. Completion of the proposed transaction is subject to a number of approvals, including among other things, approvals deemed necessary by the Deed Administrator in order to effect a sale, completion of satisfactory due diligence at the sole discretion of Great Lakes and the entering into of a definitive agreement."
Like everything else we have experienced with PLA this is dragging on and on well past the 40 day exclusivity period. I guess no one else is interested so there's no hurry to settle one way or the other.
As indicated by others in this forum whoever picks up what's left of PLA is unlikely to drop any crumbs our way.
PLA Price at posting:
6.7¢ Sentiment: None Disclosure: Held
