Post by
tony1969 on Jul 03, 2013 9:34am
Geezer, I believe this will not get to the courts, TGZ wants to settle this...
as soon as possible. They have known about this suit for about a month now and are probably negotiating with Bendon now. A combination of cash and shares makes the most sense here for Bendon. This way they get cash up front and have the ability to participate in TGZ's growth. OLE gets 70 million shares and maybe Bendon gets 35 million shares and maybe $50 million in cash (the equivalent of about 88 million shares of TGZ trading at $.57). That would leave TGZ with exactly 350 million shares outstanding and can be done today. Just an example. OLE wants stock so they will have to settle for all shares. Maybe they can get 80 million shares instead of the 70 million shares initially offerred by TGZ. TGZ is getting hammered like something is bound to happen.