TSXV:CAV.H - Post by User
Post by
fidrock1991on Apr 15, 2012 5:39pm
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Post# 19796793
FBK
FBK
Mercer ups its bid to $1.40
4/11/2012 11:51:56 AM | | 76 reads | Post #30926502
Clearly, Fibrek and Mercer are fighting hard to prevent Resolute from stealing a strategic asset by gaining control of Fibrek. Resolute is playing games and with the help of a few large shareholders, they are trying to gain control of Fibrek without having to offer a fair price. There current offer is is equal to $.93 based on the ABH share price today. Meanwhile, Mercer just upped the anti by raising their bid to $1.40 or $1.33 based on Mercer's trading price today. NOTE: the $.10 increase is al cash.
There is little doubt in anyones mind now as to what lengths Resolute/Abitibi will go to screw the minority shareholders of Fibrek. They are lawyered up to the max and they will stop at nothing to persuade regulators that that they are not acting in concert, they did not receive any insight or strategic inside information from their largest shareholder Fairfax. ( "Fair"fax - if ever there was an oxymoron) They are using every political avenue open to them to sway regulators that they are not trying to transfer economic benefit to ABH at the expense of Fibrek minority shareholders.
Now, the Supreme court of Canada has agreed to fast track the "application to appeal" which indicates that they do have some basis for appeal. It will still be a challenge to get them to hear the case but it is encouraging that a "real" court is now somewhat interested. The courts in the "republic of Quebec" are certainly not up to the challenge, their flip flopping and political interference has proven that to be the case, The regulators in Ontario passed the buck on this to a "sister organization" thereby not willing to uphold the Ontario Securites Act or protect the minority shareholders in Ontario. Commissioner James Turner has just proven to us all, we only need one regulator and he has given Mr. Flaherty a