GREY:HRIVF - Post by User
Comment by
NaturalCurrencyon Jun 03, 2009 10:24pm
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Post# 16042060
RE: article re: minority shareholder position
RE: article re: minority shareholder positionThis is great. Thanks for the efforts. I found the following section intriguing - not sure what the author is trying to say here. Thoughts?
Another international institutional shareholder told Minesite he believes there is no prospect of Severstal getting the required level of acceptances for the 18-cent offer. “Mordashov is very happy with HRG’s prospects,” the source said. “His strategy is to hold down the share price takeoff for as long as possible, knowing that many shareholders want to see the price go up, but realizing there are others – possibly RAB Capital – who can’t raise the money if there were to be a rights issue, and who may want to close their books, and sell now. Perhaps Severstal can pick up 10% to 20% from those without current cash.”