Who will tender to Brookfield Some of you "know" that WND is worth more than $3 or $4 using your own valuation methods. Mine, based upon cap rate for income producing assets, NOL deductions, escrowed cash, debt, etc. says the same thing. Even $3 is cheap ONCE YABACOA closes. $4 is a bargain at that point from what I can tell.
So I looked at who is likely to tender to Brookfield and settle for $2.50 instead of 50% higher in a couple of months when Yab closes.
Since the Brookfield offer only 13,233,100 shares have traded, some as high as 2.84 and almost all above $2.50 because the buyers believed the company was worth more than $2.50 and would get another bid. Is that not still the case?
Between the Savitr loss on Sept. 25th and the Brookfield offer 2 months later, only 8,390 shares have traded.
About 11 million shares were Savitr supporters and I hear that most of them have sold and would be in the 21.6 million total shares that changed hands.
In the Proxy vote, the current Directors got about 31 million votes. Can't we presume these people thought the company would fetch a better price with Jeff in charge than Savitr? Not much has changed.
Brookfield needs about 35 million shares to be tendered to meet their minimum goal.
If they don't, on Tuesday we are in the same situation as we were on November 24th, with a bid possible at any time. And a price target that is at least $3 or significantly more.