Drop in Deb price FridayMy take is that the drop in Deb price is because they realized that Jien wont pay more than 80.00 for them. Whoever bid them up might end up losing more than what they paid above the 80.00. If the deal doesnt fly what will they be worth then??? Check the price of the Debs before this takeover deal was announced.
Thats what they are worth without a takeover and continuing lower from there. Sure some people have a valid arguement about getting full value for their Debs. Maybe though they should be HAPPY that SOMEONE came along and took an interest in this floundering company. Without financing this CZZ company isnt worth much.
Most investors would be happy to get out of a deal gone wrong with only a 20 % loss. And the best thing about it is that they can buy almost 4 times as much GBK as CZZ.
GBK will only get 25% of the CZZ deal but they dont have to do a financing to get their portion of the deal.
Jien is paying for GBK's portion and GBK will repay it from future production. How sweet it is.
All we need is alboinki to give up and if even any of the smaller Deb holders tender enough, those that paid TOO much in the last 2 weeks will be REALLY HURTING.
By trying to force Jien to pay more for the Debs than 80.00 per 100.00 BY BIDDING THEM UP and paying up to 86.00 for them may backfire.
All Jien needs is a little over 6% to complete this takeover because THEN they will change the payout on the Debs. The 101% payout becomes 80% and interest.
GREED never pays.