OTCPK:HBAYF - Post by User
Post by
seatleslimon Nov 01, 2017 3:12pm
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Post# 26889749
Are the Board of Directors crooks or dumbells?
Are the Board of Directors crooks or dumbells?Because it sure seems like one or the other. They provide a plausible, hard-asset based NAV estimate of $6.4 billion, or $35/share. They list four assets/categories. There are bid wanteds out on two of the categories and and unsolicited bid for a major portion of a third. All look like they would trade at the presented NAVs. Yet they have entered into a deal to issue wework over 30% (including pik dividends) of the company for 12.45 per share. They claim wework is buying L&T flagship for 1.1 billion. But aren’t they actually getting that for free if they get to but a third of a company, whose own board of directors values at 6.4 billion, for $632 million? I am personally pulling for “dumbells” since the assets are too good and too valuable to transfer unnoticed. That or hopefully I’m completely missing something.
This is company should be trading in the 20s.