triedtestedand Posted January 18, 2012 Posted January 18, 2012 Alertmeipp: Am adopting same position. Also, it looks like Resolute is providing final notification (and at same time is seeking to kill the poison pill): http://www.marketwatch.com/story/resolute-updates-status-of-its-offer-for-fibrek-2012-01-17-17000?siteid=bigcharts&dist=bigcharts As fyi, I received calls from agencies representing both sides of the deal ... one from FBK two weeks ago, one from ABH last thursday evening. Save for news articles in local paper, scuttlebutt out of FBK has been eerily quiet. The clock ticks ...
tyska Posted January 18, 2012 Posted January 18, 2012 Alertmeipp: As fyi, I received calls from agencies representing both sides of the deal ... one from FBK two weeks ago, one from ABH last thursday evening. Save for news articles in local paper, scuttlebutt out of FBK has been eerily quiet. The clock ticks ... Funny, I've contacted Fbk twice, about their seeming lack of any action. Yet have never been contacted about my shares.
triedtestedand Posted January 18, 2012 Posted January 18, 2012 Tyska: I presume that from your enquiries to FBK, feedback was along lines of "we're working hard on it" and "if we do anything, you'll hear about it via press release to all"? However frustrating, this is all they can really say anyway (so can't tell so far whether anything will materialize).
alertmeipp Posted January 18, 2012 Posted January 18, 2012 i think they have have some ideas on how the tender is going on. If it's tight, they will call like crazy.. so no call probably means one side got enough votes already?
SharperDingaan Posted January 18, 2012 Posted January 18, 2012 Alertmeipp: We're taking the same position. That said we're also looking for a update from FBK - before Friday - stating what our advisors believe the company is worth, & where they are at in the value realization process. The TD assessment that it is worth more than is currently offered, is not adequate. SD
tyska Posted January 18, 2012 Posted January 18, 2012 Tyska: I presume that from your enquiries to FBK, feedback was along lines of "we're working hard on it" and "if we do anything, you'll hear about it via press release to all"? However frustrating, this is all they can really say anyway (so can't tell so far whether anything will materialize). You must be psychic ;). They also said I may address questions to Phoenix Advisory Partners, their Information agent.
triedtestedand Posted January 18, 2012 Posted January 18, 2012 Tyska/Alertmeipp/SD: I emailed FBK this morning, asking if they would have any further public update before ABH's offer notionally expires. They did respond fairly quickly, indicating that "You will hear from us before Friday."
alertmeipp Posted January 19, 2012 Posted January 19, 2012 was wondering how many shares this board owns: I have around 70k under control now. Sold some to redeploy capital to other ideas when the offer came out.
tyska Posted January 19, 2012 Posted January 19, 2012 was wondering how many shares this board owns: I have around 70k under control now. Sold some to redeploy capital to other ideas when the offer came out. Around 68k.
Guest Quebec Posted January 19, 2012 Posted January 19, 2012 Own 250k, following since spin-off, will not tender
hovey Posted January 19, 2012 Posted January 19, 2012 I am an investment manager in Vermont. We own 900K shares and are not tendering.
rkbabang Posted January 19, 2012 Posted January 19, 2012 Just 7.4K in my personal account (7410 to be exact). Not tendering.
racemize Posted January 19, 2012 Posted January 19, 2012 This seems like a fair number of shares--does the board as a whole have enough shares to act as a significant group?
cwericb Posted January 19, 2012 Posted January 19, 2012 I'm down to just 4 or 6k after dumping most at about 75 cents thinking I might buy them back lower. #$%^&*! Not tendering though.
Cardboard Posted January 19, 2012 Posted January 19, 2012 150K, acquired recently as risk arbitrage. With European and Chinese pulp prices firming up recently and with all stock prices of pulp producers moving up nicely since December, the risk of loss here even if forced to hold seems minimal. At least over the next few months. As a group, I count just over 2 million shares which is not very much or around 1.5% of outstanding. So I hope that the big guys out there are in agreement with us to influence things. I believe that the valuation study will come out higher than $1. How much higher I am unclear. I also like that Cote is finally seeing a lot of pressure. It will make him work harder for us. I simply love this quote from Garneau or a good kick to his ego: "Since we announced our offer late in November, Fibrek has found time to adopt the tactical poison pill and enhance compensation packages for senior management, but has yet to provide its shareholders with a competitive alternative to our offer. Shareholders must now be given the opportunity to decide for themselves whether or not to accept our offer." Cardboard
SharperDingaan Posted January 19, 2012 Posted January 19, 2012 Keep in mind that most here do not disagree with the combination - it is the price that is the problem. Also, while the share count may be relatively small - it is more how many are voting against, & who they are. SD
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