RE:RE:When Baker walks away..the price will go DOWNNot sure why Catalyst is saying they are prepared to pursue additional steps if the special commitee does not engage with them... Why haven't they pursued these steps already? In my view, the OSC should have already looked into these things on Friday.
Anyways, I think it's hard to imagine that Baker would walk away at this point... Of course, they will dangle that posibility untill further devellopements, but if he walks away, he will lose big time and be left out in the cold.
I also think the mere fact that they announcement a postponement of the meeting in indicative that they haven't abandonned it.
I think they will up their bid, but I wouldn't be surprised if they would continue to play games and have everyone unhappy... I.E. lower than Catalyst's. For example have the bid raised at 10.9$ or 10.95$, just to play hard ball till the very end, possibly adding additionnal conflict and keep this nasty situation going. At which point, it'll be clear to all shareholders that they won't walk and we should still reject that still lowball.
I think there is a lot of wiggle room from 10$ to 12.25$... I'm not sure why Baker as been so aggressive for his 10.3$... Just completely unreasonable, especially knowing that the 10 to 12.25 range is flawed and assumes that Sask's lost half of it's value since 2014.
Anyways, the sage continues... I'm just hoping that Baker's partner take control and give us a proper bid that Catalyst agrees on and it will be the end of this ridiculous and shameful story...
Just goes to show how fiduciary duty is an illusion or a farce on the Canadian market.
Maxmoe wrote: He want walk away, he will be perp walked out by the scruff of the neck. There is still an $11 bid on the table . it doesn't need bakers shares to succeed once the standstill lockup expires next month.