Hi WallstreetFox, Ronnie & other longs....I've invested in this thing over the last few weeks at 0.006 - 0.015. I'm have a lost on the books, but I still really believe this buyout is going to happen.
I work for a very large cap company and last year my division was rumored to be sold to TPG (Texas Pacific Group). Even being inside, the rumors were unclear for long time. Finally things looked more solid at two months before the company announced the buyout (At the beginning of the month). Then a month later the new CEO of my bought out division and his staff were announced. The old GM/Divisional manager stepped down during this time. From there it took 4 months for the final PR and completion of the buyout. This involved 3500 employees too.
Lets review the following PR and the key words.
Global Diamond Exchange Completes Sale of Third Shipment; Talks Progressing With Suitor for Buyout/Merger
NEW YORK, April 25 /PRNewswire-FirstCall/ -- Global Diamond Exchange Inc. (OTC: GBDX) is pleased to announce that while it is in continued negotiations and working out the mechanics for the potential buyout/merger, it is still conducting its normal course of business....
With regards to the buyout/merger -- things are proceeding as planned. Attorneys are currently working out the final details, which will include record and pay dates. Furthermore, a mechanism is being set up for tendering shares if and when this transaction is completed. We stress patience since this will take some time as the suitor is working out a way to take Global off the public markets and into the private sector. This is not an overnight process. Once additional information is given to us by the attorneys we will make it public and continue to keep you informed.
So my point is……buyouts take time….I personally lived thru it. Since this one doesn’t involve a lot of staff and other big company headaches….. It should be a lot quicker….I say we are within 1 month from this happening…. One last thing as part of that previous management, the management likes to complete the deal at the end of the month……cleaner closing the books that way and then they can PR on the first few days of the new month. I say we are within a month from this happening…. But that’s just my opinion!