RE: Modgil Impega
I took a position in WND purely from an arb perspective. The reason anybody has any chance of making money in this stock is because BEP is willing to pay. So, for the next few days, what WND has is a a "real" offer and a "real" bidder. If any of you are thinking that once BEP bid fails, you will make money as somehow there will be "unleashing of a true auction process", you are in for a big disappointment.
Here's how I think this plays out:
Scenario 1: BEP gets the required tender, everybody gets 2.60 (real money, not "false hopes and dreams").
Scenario 2: BEP fails in its bid. Share Price tanks. No other bidder steps up as BEP still a major shareholder (admitted by WND management in today's NR). Investment of every shareholder tied up for unforeseeable future. Management issues more options and bonuses for expanding, but everytime a bidder comes up in future, don't want to sell till they get "their dreamt price", regardless of the fact that no bidder is willing to pay for it. Eventually after a few years, big shareholders dump and leave and share price never recovers. All the investors dream of the good old days of Feb 2013 when they had the golden opportunity to make some real money off this stock, but "unrealistic greed" got the better of them.
That's exactly how I believe this is going to play out !!.