Post by
SeekingDoubles on May 14, 2011 12:22pm
Regrettably, Severstal wins in the end
Mordy's game plan is to wear-out the minority
and it seems to be working
I suspect that an ever increasing number of investors
will look to exit there positions between 1.20 and 1.50
If Severstal were to offer 1.50 before Q2 is released,
I would bet that they could successfully wrap up over 90%
Holding out for $2 and more may be beyond most everyone's patience
and unlikely to be achieved anytime soon
Even Sprott must recognize their diminishing return on equity
All Mordy has to do is write a cheque for $422 million
and everyone goes on their merry way; but that won't happen either
because they are just "overly opportunistic"
So here we will sit,
floating aimlessly
with no rudder to guide us
hoping for a miracle
waiting for results
strategically delayed
exhausted of patience
Just keeping things real and in perspective
Holding on for one more year
(fingers crossed)
Comment by
prouditalian on May 15, 2011 8:56am
I agree, these guy are way too greedy to pay 1.50 a share, and of course that offer would be accepted by most, including the funds. Just so many ways to screw minorities. They can sell equipment for 5x the price from themselves, they can buy assets at 5x over from themselves, just so many ways. This is a dead play.