HRG can only climb much higher. BUT...CJ and others,
As you read the information coming out from Severstal, I take the view that there is no way that HRG can be held back. We simply have far too much momentum in the earnings, and while games are being played, games being played IS THE GAME when you are dishonest. But in the end, we have one thing. We have minority control. We will not lose it. Other very smart people know the game too. I am one of them.
And, I assure you...we are about to use our minority rights to protect our interests.
HRG's Canadian Legal team have allowed Severstal to take HRG's cash, and then use that cash to purchase HRG's shares. I believe (and we WILL SEE), this is a direct slap in the face to securities laws, in this action has oppressed minority shareholders value. There will be likely many lawsuits over their actions, for anyone who bought shares and sold while this action was going on. Mordy can be held personally responsible over this action, especially if he takes Nord Private. Good luck with doing that. It will never happen.
The day is coming, and Nord, Severstal, their lawyers and both CEO's will have to explain their actions, without grinning. Good luck.
As I read the stories and comments coming out about how this Severstal to Nord share transaction "may" occur, I am completely confused and - if I were a Severstal shareholder, I would be raising hell. Does their action sound familiar? This is EXACTLY what the last CEO and the Chair of High River tried to do a few years ago before Severstal showed up. They tried to steal the assets. They were not thrown in jail. (They should have been). But, their reputations are destroyed. As far as I am concerned, both groups, past and present HRG Boards screwed shareholders willingly and without a care in the world. Mordy is the same way. At least the Severstal shareholders know this too. They dumped Severstal shares know the issue was obvious.
We longs are not stupid. We also have the will and determination to stop his oppressive actions.
More in due time. It's coming.