RE:RE:Globe & Mail Articlebraincloud - I've been out all day so just saw your remarks. Thanks for the compliment and your brilliant analysis. A couple of points:
1. Block trades are just small pieces in a large puzzle. But this wasn't a $500 punt. If there were lots of doubts, people would have trouble selling blocks at $1.80. If you weren't sure of the deal, would you ante up close to $150K as did both NA and the Canaccord client?
2. Much more important, the Globe article hightlghts that deep pocketed Chinese companies are scouring the globe looking for bargains and BNK certainly qualifies at $2.20. As everyone is aware, part of the reason that its SP fell so low was the punitive taxes imposed by the Albanian government. Now while it might be easy to levy this on a small Canadian company, it would be completely different when dealing with the Chinese. With that in mind, you can pretty much guarantee that Geo-Jade has already completed negotiations with the Albanians before they made the takeover offer.
3. Not one investment house has indicated that they have doubts about the deal and as a result, kept their targets lower than the $2.20 buyout price. You would think that if there was any smoke burning anywhere, someone would have picked up on it.
Individual points taken in isolation may mean nothing. But when you start putting all the pieces together, it certainly looks like the deal will go through. But if you think that all analysts are idiots like me, then presumably either you don't hold BNK or already panicked and sold lower and are now annoyed. GLTA