OTCPK:HBAYF - Post by User
Post by
88guy88on Jun 13, 2019 9:16am
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Post# 29821661
Looks like Poor Results will play into Baker's bid
Looks like Poor Results will play into Baker's bidnot so good for 4.3% down for Bay sales and Lord and Taylor is down around 17% according to BNN commentator....likely he will position this as struggling retail with alot of risk and cost to turn around the business and now it has declining value...but we all know that...its still a matter of the value of real estate...will have to wait but looks like the bid might be accepted as is....
they sure timed the bid at the right time....the price tanked to $6.22 low and then the announcement of the bid the same day as the 1.5 billion for Europe assest and then a few days later the retail results validate that the HBC and even Saks suck for results to futher erode any decent value.....they are playing this one to their advantage for sure....will need to see what the special committee thinks but the big factor will be the poor results for retail for the quarter and the risk going forward....will have to wait...