RE: RE: Talk about uninformative! I agree Vantheman, it's hard to know exactly what they're trying to get across here. And CJHalee, agreed again, if they're saying one thing yesterday via the presentation and turn around and say another today in this news release, that would take some pretty big cojones.
However, is everyone sure that this is a further 60 day delay to the DD? It sounds to me that the 60 days referred to in this news release may be the 60 days to complete the financial transaction. Here is the quote from the news relase
"Upon satisfactory completion of due diligence by IMC, and subject to the other terms and conditions of the definitive agreements in respect of the transaction, the parties will have a further 60 days to complete the transaction, unless further extended by mutual agreement."
It's a bit easier if you take out the middle part, which isn't needed to make the point:
Upon satisfactory completion of due diligence by IMC, the parties will have a further 60 days to complete the transaction, unless further extended by mutual agreement.
Unless transaction refers to the DD, I would be led to think it's referring to the finance deal. I think this may just be another case of a seriously botched NR. Other's thoughts?