GREY:MYMMF - Post by User
Comment by
WeeblesWobbleon Nov 26, 2019 9:51am
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Post# 30392892
RE:MYM Nutraceuticals, Crop Infrastructure cancel merger
RE:MYM Nutraceuticals, Crop Infrastructure cancel mergerIMO, the press release could also have read as:
"Sorry everyone. During our in-depth DD we found some skeltons (debt covenants) which make acquisition of the CROP shares no longer, feasible from a legal and/or financial perspective."
Alternatively:
"Sorry eveyone. In the course of discussing the acquisition of CROP shares with CROP creditors, we were unable to negotiate sufficient compromises of CROP debt to make the share acquisition feasible from a financial perspective."
Bit of a shame, truth be told. MYM may still pursue specific assets owned by CROP and its affiliates. That may actually prove to be a better financial approach, particularly if CROP seeks creditor protection (and/or Chapter 11). MYM may be able to get fire sale purchase price(s) from a receiver/manager.
Only thing left to do this week is wait for a possible licence issuance and listen to whatever the bashers are going to say.