Old PSG Wind-Down Ltd PSGLQ

Filing brankruptcy with buyer in hand

[Jipe161]

They intend to file bankruptcy with a buyer in hand. As I understand this there is two possible buyer. Brookfield and Fairfax. And if I understand right they are bidding against each other. is this chapter 11 bankruptcy ? Can someone with a little more experience can explain what filing bankruptcy with a buyer in hand mean for the future ?

[Dimibear74]

Sell off your shares for not losing every thing. This company is not in healt and if someone buy it it will be for pennies.

[Jipe161]

I'm not so sure about that. This company has been posting sale of over 150 millions every quarter and they are still putting those numbers. Yes i can understand they bought easton and sport authority brankrupted but psg going bankruptcy is a little bit too much in my opinion. Don't forget there is no official statement yet just rumor from reuter. I hope for a last minute deal with fairfax.

[Dimibear74]

I agree with You that the company had some buy out from Sagard and Brokfield. There also are the forman CEO who is interistig to buy the PSG. But ask you: haw mach are they ready to pay for? Why the deals a month ago with Sagard was broken? Why someone ( I think the insiders) tried to keep share price to Hi since august? And if they want to sell the company there is a reason- they can't pay

[Jipe161]

psg is worth from 100 to 300 millions in my opinion. And if you look at last financial report if you substract asset by debt it is still worth 100 millions. So it gives a price share from 2,22$ to 6,66$. I think the value is good now but we may experiment a dip monday with that kind of news.

[Dimibear74]

Recent Evaluations and  one year price targets: Morningstar  4$cad surevalue RBC 1,5$ US 27-10-2016 outperforme and speculation risk Thompson Reuters 3.17$CAD speculation risk TD 2,6$ CAD and outperforme How did You make your estimation I don't know but I wiil buy less than 2$CAD