Was buyout collapse staged?Looking back a few months.
Prem Watsa resigned from Board, before Q2 results, to buy the Company.
The Q2 results came in with a big Warning Loss and Prem bid $9.00.
He does not have the Money and stock fell further to $6.40us
Watsa is back as Director, but Shareholders been slaughtered during this fiasco.
A few things
1) Was Prem Watsa stepping down, bid on BB, stepping back in... coincidental
2)Prem Watsa knew he did not have the money to buy the Company,when he resigned. So was his bid and withdrawal, a sham
2) Was Q2 huge Z10 inventory of $934M writedown a sham
The Quarter before (Q1) they had an inventory of total finished goods of only $80M. Carriers' Inventories were also bone dry. Where did this big Inventory write down came from?
This playout has caused Shareholders to lose $Billions.
Only my opinion