Post by
Honkeybill on Dec 03, 2009 2:15pm
It's a positive news release
And it's the first one I have witnessed since I bought HRG shares a year ago.
Cash flow way up, debt situation fixed and it looks like the POG is going to stay at least where it is for a while....if not move up a little.
To be honest, I would be very surprised to see a lowball offer (60 cents) from Severstaal.......I think they've adjusted their strategy.....they tried to steal it before the POG started shooting up and that didn't work, so I think they're on to plan B........get the sp as high as they can and laugh all the way to the bank.
The last offer was for 30 cents, which was a 90% premium over the 60 day volume weighted average. That offer wasn't even close.
Not sure what the current 60 day volume weighted average today is (around .40 I would guess without doing all the math)..............which translates into 0.76 a share if you add the 90% premium which they used in July.
The cat is out of the bag on this one I think, and the first few days of next week will tell the tale. If Severstaal doesn't do anything silly to keep the price down, this baby's gonna move very quickly.