TSX:CUS.DB.D - Post by User
Comment by
Khersonon Jun 14, 2016 10:26pm
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Post# 24966190
RE:RE:RE:RE:RE:RE:Merger Update?
RE:RE:RE:RE:RE:RE:Merger Update?Kherson wrote: dask wrote: To the defence of Kherson, I have been a sucker at Canexus at over $7.-+, and like Kherson I have no love for the management and "our" directors. Canexus was a good company until Management run it to the ground and our Directors did not help.
However, I will not get more money back by been sour at those guys, lets make the best of this deal, learn from it and move one, hopefully Superior will be better.
Lets use this board to max. the informative information so that we all can benifit the best we can!
Dask, the problem as I see it is that the there is no guarantee that the merger will occur. The clowns running this company have been so dishonest up to now, and the share price exposes that fact, what is to say that they have or will not screw up the merger process?
Keep in mind that the last credit amendment was on August 31, 2015 and the Total Commitment was
reduced from $500 million to $400 million! What we all know that Canexus' business along with it's Balance sheet has deteriorated since then! Now on March 31, 2016, the Debt to EBITDA ratio will be reduced from 4 to 3.75 to 1!
Finally, let's not forget that the first payment of $7.5 million on that Non-Revolving Credit Facility is also due on March 31, 2016.
Kherson
Although the Credit Facility has been rejigged to allow Canexus to survive until the end of the month, it is still my belief that the proposed merger has failed. Now is the time for shareholders to be heard and vote out the deadwood on the BOD!
Kherson