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A123 (AONE +27.1%) shares roar higher after Wanxiang President Ni Pin says his company is still...

A123 (AONE +27.1%) shares roar higher after Wanxiang President Ni Pin says his company is still interested in taking over A123 despite the company filing for Chapter 11 this week and calling off its investment deal with the Chinese autoparts firm. Ni tells Bloomberg that the filing may make A123 more attractive. "Bankruptcy court is like a filter that lets a dirty big boy covered with mud go through it and turn himself into a clean boy," Ni says.
Comments (12)
  • Will your article please make clear that a 40% increase in price for this stock today is a grand total of TWO CENTS?
    18 Oct 2012, 10:36 AM Reply Like
  • If someone have a million dollars in AONE stock, a 40% increase is very much relevant, rather that a two cent increase.
    18 Oct 2012, 06:19 PM Reply Like
  • 40% is 40% regardless of the pennies. If I have $1000.00 invested at $10.00 share and it moves 40% or I have $1000.00 invested at $0.01 per share no matter how you cut it a 40% move still equates to a $1400.00 value.
    19 Oct 2012, 08:06 AM Reply Like
  • "Bankruptcy court is like a filter that lets a dirty big boy covered with mud go through it and turn himself into a clean boy," Ni says.

     

    Gotta say, I got a kick out of that.
    18 Oct 2012, 10:40 AM Reply Like
  • Also that AONE's supposedly advanced battery technology the government thought essential for EV success, in reality, is just about worthless. It'll be given away, and the shareholder equity / taxpayer investment completely destroyed. Something the government is good at doing.
    18 Oct 2012, 10:43 AM Reply Like
  • Chinese must think there is value in that IP...
    18 Oct 2012, 10:55 AM Reply Like
  • Exactly. At almost no cost, the Chinese can acquire battery technology instead of going through a development. It's how the Chinese do business. And it's worth gambling on when you have trade surpluses and cash to spare. The IP itself is nothing special, just another variation on the lithium ion approach. The Chinese can turn it into a viable product and manufacturer it for a reasonable cost. Something we can't do here, for whatever reason.
    18 Oct 2012, 11:50 AM Reply Like
  • First you say its worthless, then you say it isent - having a hard time desiding what to think?

     

    Maybe stick with what you "know" instead
    18 Oct 2012, 06:19 PM Reply Like
  • They have to have reasons to be that persistent:

     

    6:19 AM Wanxiang Group intends to outbid Johnson Controls (JCI) for A213's (AONE) automotive-business assets and replace the U.S. company as the "stalking horse" bidder. The Chinese company announced its intention at a court hearing yesterday following A123's filing for Chapter 11. At the hearing, A123 won approval to borrow up to $15.5M in interim financing from Johnson Controls. [M&A] 3 Comments
    19 Oct 2012, 09:21 AM Reply Like
  • don't all shareholders get wiped out in bankruptcy filing?
    22 Oct 2012, 11:05 AM Reply Like
  • no. If they cannot sell the assets or save the company then yes, but if someone buys it then the shareholders get it.
    22 Oct 2012, 11:10 AM Reply Like
  • I think Wanxiang Group is successful in outbidding Johnson Controls and the stock will climb much higher. At the hearing, the judge approved a $15.5M interim loan to A123. He must see something there. Also don't forget A123 still has other assets other than the auto business. At 12 cents this stock is EXTREMELY UNDERVALUED. Full disclosure: I own 100,000 shares.
    24 Oct 2012, 11:51 AM Reply Like
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