CANEXUS CORP 6.5 PCT DEBS T.CUS.DB.D

RE:RE:RE:RE:Kherson clown

[Kherson]

MattMckienzes wrote:

mo1975 wrote: matt, where do you see edwards saying it is worth a billion dollars???????

It was in a interview, he was saying chemtrade was being opportunistic trying to buy canexus at a cyclical low for the chemicals it sells and that the long term cash flow of the company looks appealing . Don't forget the opening lowball bid by chemtrade of $1.50 values canexus at over 884 million.

The bid is for $1.50 a share and with about 190 million shares outstanding, that equals less than $300 million. This is the amount that Chemtrade is willing to pay for the equity portion of Canexus while the Debt is actually rolled over.
The problem here is that the BV of the equity is actually zero, so in reality the shares have no real value. Presently, the Canexus debt is greater than the asset value, hence the negative BV!
Shareholders would be foolish not to tender their shares to Chemtrade due to the present financial mess that management along with the BOD have put the company into!
Kherson