RE: I wonder how long.... I VOTE "NO" and urge all other minority stockholders to VOTE "NO" until such time as we receive a REAL offer. Real offer would be north of $2.25 (if HRG were a real company, free of the Russians)
Back in 2009, it was June 8, offer was .22/share Severstal hired a PR firm to canvas stockholders telling them it is a good offer.
On June 25 offer was mailed, with a July 31 deadline date. Severstal knew at that time their gambit would fail.
On July 28th they increased their offer by 36% to .30/Share with an offer deadline of August 10.
So what can we expect, "in my opinion" Aug 1, offer will be mailed with a Sept 1 deal deadline. August 15, Nord Golf will increase their offer to $1.90 after that....who knows. Just my time line. For Mordashov $400 million is the number, for us more like $500 million+
1) This is not their final offer because ,Nord will not get the majority of the minority votes needed and they know that. Minority stockholders will have their own valuation, which will be higher than Nords.
2) Mordashov needs HRG more than HRG needs Nord. Nord has only lost value and HRG continues to be the only valuable portfolio he has.
3) The incremental cost to acquire the balance of HRG is a fraction of the potential increase in the value of Nord Golf.
Happy to keep holding
CJ