RE:Tick TockIronCork wrote: Man, this play sure isn't for the faint of heart...
News Release: sure as hell better be this week. Q1 reporting deadline is the 15th. Will shareholders also receive an update on the strategic review process? I sure hope so. Every day that passes without a deal being struck is a major concern. MBAC will be lights out if they can't produce for the high fertilizer season that is fast approaching.
There is a big effin difference between having a number of interested parties and those who have actually submitted formal proposals (whether it be for a strategic partnership or buyout). I sure hope there are multiple suitors and that is the reason for the lengthy delay (time and this "patience" bs is something this company doesn't have). And of course I don't want a hasty decision to be made that is not in our best interest and leaves something of better value on the table, but like I said, tick tock...
Best case scenario imo - there are four serious players. All initial proposals were garbage deals for us. Only real leverage for mgmt was the fact there are multiple interested parties. If that's the case, lots of back and forth negotiations driving the terms up in our favor. Of course, this is all speculation on my part. For those who have called to probe further, you know as I do that PR is tight lipped.
If an update is released with financials, It will be very interesting to see how it is conveyed, reading between the lines will be critical...
Best of luck to all longs, I need this to pan out just as much as anyone.
Tick tock...
While management has disappointed us many times before remember that Deutche Bank and the BOD are driving this.
Do you think that Deutche Bank didn't do thier Due Diligence on the company before they took them on as a client? Of course they did - They would
a) make sure there are assets worth selling; and
b) there is is high probability that a transaction will be completed
Do you know what puts my mind at ease? Lenders were supposed to provide MBAC with 5.6 Million in Januray. Instead they gave them $7.8 million. More then required - put them on stable footing during the strategic review process.
Lenders wouldn't have done this without some certainty that this will be bought out or continue on and ramp up quickly to attain postive cash flow and earning moving forward.