A terrible deal for LDSThe proposed business combination as it stands now is terrible for LDS and opportunistic for TCAN. IMHO TCAN is worhtless but unlike LDS investors are still drinking thier cool-aid hence thier market cap is balooned to ridiculous levels - not to mention the share count is so low that they can manipulate the share price much better... Most importatnly, unlike LDS, they also do not have the Brad factor discount.
So TCAN is using thier balooned market cap as currency to take out the much more valuable LDS which is subject to the Brad the bull shiiter discount. I can't wait to see the fairness opinion - who will they use to justify that TCAN is much more valualbe than LDS.
A few big questions:
1) Is Brad gone? If so then even getting balooned shares in newco might be beter than suffering furhter with Brad and his scatterbrained approach.
2)Voting will require 2/3 approval and we should ensure that only disinterested parties vote. This means that management or any entities that own shares in both companies should not be allowed to vote.
3) I don't like the mention of exclusivity and non-solicitation. If LDS is in play then we need a transparent and open bidding process.
LDS is vulnerable as it is actually starting to execute and it's market cap is very low compared to even TCAN whereby TCAN is merly a mini-me LDS without the Brad factor. I like the fact we are now in play and we have to ensure that the company is now in play.... Hopefully that is the plan, just start off with a doable offer and then shop it around.
As it stands, I am voting No. If this is turned down Brad should be forced to resign... It's just that he does have a fair amount of paper.
GLTA LDS Longs. This is the beginning of the end.