RE:RE:RE:RE:Expecting a better deal to MBC ....
Psalm9012 wrote: I already wrote DB. Will let you know if hear anything back but not holding my breath. With Brazil entering its worst recession in 25 years, the Real has now dropped to less than half of what it was to the U.S. $ just four years ago. One would think this would provide an attractive export market for the off season. There is still tremendous value here as the Mosaic report shows the phosphate sector is good globally. Our hope lies in either: 1) one of the bidders for a buyout taking their bid public to the shareholders; 2) a new hostile bidder making an offer for everything - and that could include Marrone coming back with some fellow investors - since he knows the potential, or 3) a larger institutional shareholder getting a court order forcing the company to reveal all the bids and then endorsing the one best for shareholders and forcing a vote. Greg
MBAC has ZERO leverage - The only leverage we did have is the multiple bids. It's sad and upsetting to know that other companies had literally one or two offers and both of them if not one them was superior to what MBAC recieved.
If I was creditor and the 'new' owners wanted to me to adjust the debt - there is NO way I would agree to it if the current management remain in existence. I would demand to see a new management team first in principle before agreeing to anything.
Clearly the 'offeror' doesn't believe MBAC is sustainable and/or profitable with the debt structured the way that it is.
A two year delay was useless - this needs to be amortized over 10+years not 5.