Seeking Alpha

Yongye +13.3% as consortium raises bid to $7/share

Comments (8)
  • Chris DeMuth Jr.
    , contributor
    Comments (7385) | Send Message
     
    In addition to the higher price, the change in the voting will make it more likely to go through -- http://bit.ly/NTquAY.
    26 Mar 2014, 02:51 PM Reply Like
  • Dredu543
    , contributor
    Comments (85) | Send Message
     
    They have bought a lot of shares under 6 in the last month ...
    26 Mar 2014, 02:58 PM Reply Like
  • sheldond
    , contributor
    Comments (1305) | Send Message
     
    Wow I thought this would happen after reading about the transaction.

     

    D
    26 Mar 2014, 03:52 PM Reply Like
  • TryingtoGetTheFacts
    , contributor
    Comments (6) | Send Message
     
    What is the change in voting, Chris? Where is it described?

     

    What can we do to stop this? The increase in price is a joke and the offer is still inadequate, particularly in the light of the company's performance since the original offer was made.
    26 Mar 2014, 10:30 PM Reply Like
  • Chris DeMuth Jr.
    , contributor
    Comments (7385) | Send Message
     
    “Requisite Company Vote” Requirement. As condition to the Buyer Consortium’s increase of the merger consideration, the Special Committee will modify clause (iii) of the “Requisite Company Vote” requirement in the merger agreement to provide that the voting requirement thereunder is the approval by a majority of the outstanding shares held by the unaffiliated common stockholders that are present in person or by proxy and voting for or against approval of the merger agreement at the stockholders’ meeting, instead of a majority of all issued and outstanding shares held by the unaffiliated common stockholders as contemplated under the current merger agreement. - http://bit.ly/1gtnA1G
    27 Mar 2014, 08:01 AM Reply Like
  • constala
    , contributor
    Comments (38) | Send Message
     
    Vast majority of riskarbs HF would have voted yes for the previous offer anyway, were it not for the silly 55 day lag between record date and vote date that created havoc as 100% of free float was changing hands and thus no-vote (=did not vote) accounted for 51% of shares!...so if you add the vote majority change it really appears a done and dusted deal this time. MPEA Asia+Chairman taking private a company with clear runway, growing at 20% per annum, at $7.00, versus $ 2.99 EPS 2013....which will re-surface in 5 years in an SE Asian market fresh listing at x8 to x10 earnings multiple.....The 2011 bear raids and the subsequent anti-Chinese sentiment actually benefits Private Equity money as well as shorters...not the average Nasdaq investor for sure....I wonder what the next take private could be....
    27 Mar 2014, 04:20 AM Reply Like
  • Largeone
    , contributor
    Comments (26) | Send Message
     
    What a joke! As you state...just another way for the hedge funds and private equity firms to screw the minority shareholder. Shame on Morgan Stanley for their part in this sham!
    27 Mar 2014, 08:15 AM Reply Like
  • TryingtoGetTheFacts
    , contributor
    Comments (6) | Send Message
     
    Is there any way to express our displeasure to the special committee? It sounds as if they have not approved the new proposal yet.

     

    We should tell them that a 40 cent price increase is not sufficient to give the company away - again considering the improved results of the company since the original offer was made.
    27 Mar 2014, 11:14 AM Reply Like
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