Peter75 valuation of WND Thanks Peter75 for the update. I have spoken to management about your comments eminating from Bay Street and the following is what I have been told:
The assets are both complicated and unique, meaning there are complex tax structures, environmental issues, property issues and other items that must be resolved from the current board before a sale is successful. A successful and realistic sale, according to WND is between $3.75 and $4.50 per share and the current board can only pull this off. Savitr has already verified the current board can only get this number, because Savitr, through their own advisor, who has capped the price at $2.50 on a August 7 email to its clients and distribution list, gives the Savitr slate the pre-ordained exuse to only expect $2.50 per share. In other words, in the ugly and rare event that Savitr wins the proxy battle, thay can rely on their advisors advice and opinion the company is worth $2.50 share. Remember that the Savitr advisor sent the email on August 7 claiming $2.50 and then a day later on August 8, Savitr issues a news release stating that same advisor will be appointed if they win the AGM. Savitr and/or its advisor had a material obligation to publish its own pre-determined opinion.
Now we know Savitr and its friendly hedge funds own AQN and a lot, which means if you hear the AQN conference call recording and hear the AQN person saying they support the dissident sales process, you can make your own conclusions. By having the same Bay Street analysts say $2.50 over and over again, then Savitr has no problem saying $2.50 is the number.
However I would say that WND has 44% of the vote and in now way can Savitr get close. Savitr has two friendly funds from San Francisco on their side (who both own AQN big time) and coupkle arb and hedge funds in TO that hate Jeff. Other than that Savitr needs to launch a smear campaign and alternate proxy battle by September 6 or 7 and start phoning retail shareholders, who own north of 30 Million shares to vote with Savitr.
If Savitr had 44% they would not be spending big dollars to hire a phone room and solicit our votes.
According to Jeff, Robert McQ does not like Jeff because Jeff would not let him stuff Catch the Wind down his throat at $3. Jeff said in 2009 the stock would be 10 cents and now its 8 cents or so.
Only those that will benefit from the other side of a $2.50 sale will be voting for Savitr folks in my opinion.
I believe the current board must get elected to get us that extra $1.50 and Savitr has lost its way partially in Midler's desire to get even in my opinion. (A lot of these San Francisco hedge funds are run by guys with egos bigger than their wallets or brains. This all in my humble opinion.