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Also rumors out there that Brazil, which is worth more than $5 Billion, might also be acquired... stay tuned! ;}~
I am not selling. I want to see if there's a larger bidder than AT&T.
The Purchase Agreement terminates the plan.
From 8-k:
"Because the transactions pursuant to the Purchase Agreement are inconsistent with terms of the Plan Support Agreement, the Company has exercised its right to terminate the Plan Support Agreement in its existing form, and expects to engage with its major stakeholders in an effort to gain support for modifications to the Plan that will allow it and its subsidiaries to emerge from Chapter 11 reorganization."
I find it interesting that the $1.8 billion dollar offer will allow the company to emerge from bankruptcy. I thought the company held a larger amount of debt than that. I've never been involved with a Chapter 11 subsidiary sale, this is my first and I would think commons will either get cash for their shares, transfer to T, or emerge with the company. We should hear more specific numbers as the June 30th deadline approaches.
http://www.bizjournals.com/washington/blog/techflash/2015/01/at-t-buys-nii-holdings-mexico-business-for-1-9b.html
"We believe that the sale of Nextel Mexico represents an opportunity to reduce our operational risk, deliver value to our stakeholders and provide the liquidity that will position us to emerge from Chapter 11 reorganization with a healthy balance sheet and fund our business plan in Brazil," said NII Holdings chief executive Steve Shindler.
From 8-k:
"Because the transactions pursuant to the Purchase Agreement are inconsistent with terms of the Plan Support Agreement, the Company has exercised its right to terminate the Plan Support Agreement in its existing form, and expects to engage with its major stakeholders in an effort to gain support for modifications to the Plan that will allow it and its subsidiaries to emerge from Chapter 11 reorganization."
Wow, this is going to happen fast! Per 8-k:
The Purchase Agreement approved by the Bankruptcy Court by February 17, 2015.
The sale hearing by March 23, 2015.
The sale transaction is expected to close in the first half of 2015.
I think so too! If not, I am definitely going to take advantage of any dip. We have until July or so to accumulate shares, after then NIHDQ price doesn't matter anymore, AT&T price will matter.
Also, AT&T has buyout in for DirecTV (DTV), which is currently trading in $80 range. AT&T could be a high priced stock here very soon...
http://www.wsj.com/articles/at-t-to-buy-nextel-mexico-for-1-88-billion-1422274489
"...The move comes as AT&T is also awaiting regulatory approval for its $48.5 billion deal for satellite-television provider DirecTV."
It does not happen all the time, why just today one of the current bankrupt companies just got a buyout offer... could very well happen with GT too ;}~
http://www.fiercewireless.com/story/att-nab-nextel-mexico-188b-bankrupt-nii-holdings/2015-01-26
Hi Richard, Were you sitting in the court room? Did the Judge give a reason for denying equity committee? Sometimes the reason alone paints the picture for commons... Thnx!
Yes, hope all weak hands sold this morning ;}~
Flood gates have opened now that the world knows Nii Holding is willing to sell Nextel Mexico. Any other bidders out there? Sprint? ;}~
MMM, Look at all those LAALipops! ;}~
When do I get my 10,263,589,742,586,541,444,454,588,800,005th distribution? LOL ;}~
Nice! Seems to be working! ;}~
DANG!!! Still climbing ;}~
Yes and not too often. AAMRQ didn't have an equity committee until after distributions were announced to shareholders and that was just to discuss how AAL distributions would be paid out over 120 day period:
http://aviationblog.dallasnews.com/2013/01/amr-says-stock-may-be-worth-something-after-bankruptcy-exit.html/
"Early in the case, a shareholder had asked that an equity committee be formed to represent the holders of AMR’s 335.2 million shares of common stock.
“On behalf of the Debtors, our letters opposed the appointment of an equity committee on the primary ground that there did not appear to be a substantial likelihood that [equity holders of AMR] would receive any meaningful distribution in the chapter 11 cases under a strict application of the absolute priority rule,” Miller wrote. “In addition, we noted that equity holders appeared able to adequately represent their interests in the chapter 11 cases without an official statutory committee.”"
Equity Committee does not have to exist for shareholders to receive a recovery.
Hey cofca! What alert service do you use?
Wow, nice day for DNDNQ!!!
Well, who better to represent shareholders, than a shareholder... ha ha. At the least, he's putting a bug in Judges ear... buzz buzz don't forget us little bugs! ;}~
Definitely great news! How many different ways can GT tell their investors, "We have money for you!!", lol ;}~
Here's another way:
https://www.kccllc.net/gtat/document/1411916150112000000000004
MMM, deep fried shorts! ;}~
Ohhh, I haven't forgotten... the company keeps pounding that fact into our heads. The last 8K specifically stated for potential shareholders not to read too much into the reports because GT subsidiary numbers were not included... "read between the lines" ;}~
Don't have to be an accountant to see there are very few negative numbers in the spreadsheets. ;}~
It's all in the delivery! ;}~
Ummmm, anyone know when we get our 5th distribution, LOL ;}~
Just found this cool Visual Chart of Chapter 11 process while looking through transferee of claims, Tannor Capital Management LLC website:
Download here: http://www.bankruptcyvisuals.com/viewcharts.html
POR "Plan of Reorganization". Still waiting on that. ;}~
That is NOT the POR. The POR has not been written yet. I don't get that meaning at all from the docket. Happy New Year! ;}~
Happy New Year Everyone!!! Finally, been anxious for 2015, this is AAL year!
Salud! ;}~
Yup! Exactly. When GT enters NASDAQ all that will matter is the number of shares you own. We will be given the NASDAQ price for each share, won't be $.30 either ;}~
Happy New Year Everyone!
That is not the direct quote, here's the direct quote:
"(b) the grant of equity incentive awards during these bankruptcy cases would be likely to result in no value to the Senior Management Employees. Without the cash bonus and equity incentive award components, the Total Direct Compensation of the Senior Management Employees for which comprehensive benchmarking has been performed is significantly below industry market levels – on average, 80% below the market median and 74% below the 25th percentile of the market."
Yea, that's exactly what Apple wants... an exclusive Apple supplier who died by their sword... ha ha ha! ;}~
TRUTH is the plan has not been written, voted on, or approved so we won't know until then. BUT, GT has already settled with their largest creditor Apple, if the other creditors are given what asked for (which seems very likely as their claims are being bought left and right), then there will be value for shareholders. Its looking real positive! ;}~
Yes, with the current proposed plan. It has not been approved or voted on, so hoping for buyout before then.
Have a Merry Christmas ALL & GTATQ!!!
Oil winners: Bet on stocks catering to low-income consumers
http://www.cnbc.com/id/102290430
John Melloy
8 Hours Ago
Shares of retailers that cater to low-income consumers, along with airlines, will get the biggest boost over the next 12 months from the collapse in oil prices, according to a sweeping report from Morgan Stanley research....
Hey looks like that q is getting further away from GTAT!
You should add a dot to "GTAT.....q" everyday until it's gone ;}~
Xiaomi may use Sapphire Glass as protective covers for its next flagship device Mi 5
Posted Dec 23 , 2014 4:19 pm (IST) by Rahul Punyani
https://thetechportal.in/2014/12/23/xiaomi-may-use-sapphire-glass-protective-covers-next-flagship-device-mi-5/
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Lots of companies soon to be looking for Sapphire furnaces... hmmm, wonder who's got any to sell ;}~
Here's body of the article:
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Xiaomi isn’t just ramping up sales, it is rapidly ramping up its tech too. As per a report in DigiTimes today, World’s third largest smartphone manufacturer, Xiaomi might use Sapphire glass as protective covers for its upcoming flagship device Mi 5.
However, the report further suggests that the current sapphire stock and the production rate will not be able to meet the needs of Xiaomi’s Mi5,largely due to the huge sales which the Chinese manufacturer has been witnessing. Major Chinese Sapphire producers, Lens Technology and Biel Crystal Manufactory have boosted up their Sapphire production to avoid further shortages.
The next flagship smartphone from Chinese manufacturer Xiaomi will quite clearly be the most impressive Xiaomi yet, on the technical front. Rumours are flying about its specifications and possible price. The device is expected to launch in 2015 featuring 5.5-inches of display. Further, the device is likely to be powered by Snapdragon 805, or a Snapdragon 810 processor, with 3GB of RAM. Rumours have surfaced that the smartphone will also have a 20.7-megapixel camera, and a fingerprint sensor.
However, inclusion of Sapphire glass might be a daunting task for the company itself. Sapphire crystals are not only costly, but their production and implementation into smartphone covers is way more complex, and yes, costly. This cost-factor, if not taken into account, would badly hurt Xiaomi’s current business model of selling high-end smartphones at relatively rock-bottom prices. Xiaomi’s business strategy is often compared to Apple, and this approach of using Sapphire glass would come no different.
Just love these guys' 8-ks! They are very optimistic about the future of the company, as should we!! ;}~