Adjourn, delay, delay more, 45 days then apply for another 5 months 2 months late like in december again.
Sorry Your Honour...DOCA 2.0 , recap, union negotiations fragile, c&m maybe,grannys sick, cfo in canada, dog ate the CN amendments, any excuse pleeeease etc.....
Fact is, insolvent companies dont continue production for 18 months & dont have CEOs CFOs promising new projects & no night shift cutbacks or to ignore mass worker sacking notices. Irregular.
DOCA 2.0 is a trap, the poison pill defence ala DOCA 1.0 wont work & will remove all defences & controlling power forcing an early unwanted relisting.
A CN simple amendment, small CR NRRI for all & more delays until the SP or NP or sale price can get up there is the ONLY real plan left.
MBN belongs to the brasilian state & workers yet they wont pay fair market price for it to the yanks, why not, must have another option up their sleeve?
The chinese just bought smederevo steel works in eastern europe for $75M, FQM just sold Kevitsa ni mine for $712M to Boliden AB, why cant Vale buy MBN for $400M plus debt ask the yanks? What other options do they have?
Why did BCEE buy another 19M shares in August to 7.5% knowing of the TH discussions? Doesnt make sense.
The VA VR want DOCA 2.0 & more time, yet theyve had 9 months already but a DOCA idea arrives now? I dont believe that for a second.
Be careful what you wish for or you might just get it.
A mass dilution & early relisting at a low NP , poison to everyones ears especially USNHs who engaged Flannery to go to Brasil rather than get him nutting out a doca deal in new york since August.
Not very convincing from the VA at all. Nothing new. You cant force CNHs to take shares nor a secret set of buyers to bid fairly. They didnt want US$30M in August so even less so now. Stuck for a while.
