What I'm and many are holding on to is that fact that Wanxiang america is pumping 350M in AONE to have it perform more. Considering this quote and similar ones by Wanxiang officials "We believe an acquisition by Wanxiang will provide A123 with the financial support necessary to strengthen our competitive position in the global vehicle electrification, grid energy storage and other markets, and we look forward to completing the sale."

But some douche will call me a pumper and I will have to post this again in 20 minutes because it will be buried by bullshit and people are too lazy to read prior posts and ask the same questions over and over.

Source: http://www.a123systems.com/4ed1363b-069e-418e-9a8d-4c1578ac93b1/media-room-2012-press-releases-detail.htm

(pardon my bad english)

Yeah, thats sort of the plan. I will have to see with the accountant what can be deducted from my appartments.

I got some .19 for you Sean! Any day haha

According to this Wanx got the company as a whole, not the assets. "We believe an acquisition by Wanxiang will provide A123 with the financial support necessary to strengthen our competitive position in the global vehicle electrification, grid energy storage and other markets, and we look forward to completing the sale." We can only hope the judge doesnt cancel shares (not likely)




source
http://www.a123systems.com/4ed1363b-069e-418e-9a8d-4c1578ac93b1/media-room-2012-press-releases-detail.htm

http://www.loganandco.com/noticesandpleadings/ASI/ASI_NP_00129523_61fcd5af430de8c70770c99ecf1a8749.PDF Exhibit A detective.

If anything this confirms that A123 will keep working with all the assets that where sold. If the shares dont get cancelled we will still be in the game and not left with a "shell" at least. Fingers crossed for all us longs.

http://ir.a123systems.com/releasedetail.cfm?ReleaseID=726258

(pardon my english)

If we can only get the value of liabilities we would have a good chance not to get cancelled. Lets all pray to the money god," dear John Bogle blesse be thy wealth, make this work." Good luck everyone who's been long and losing thus far.

(pardon my mediocre english)

Shut up, follow delshareholder...

Cause wanx said it would assume claims and liabilities (not sure if its all or how much) and they are bringing 350M to the closing.

We dont know yet, it would be amazing for us.

Yeah, I would love to avoid telling my wife that I lost 60k in 4 months on this.

So far its an asset buy, not a buyout... I'm hoping the judge can change that.

Haha my shaking finger aswell.

Not much lower, JCI and NEC wanted it for 250M

Only the DOE ones.

I really wish we could do something, but alas.

Me 275k, and I would rather not say the price haha.

This is what I sent to Mr. Ni, hoping for an eventual response and not a "Send to spam" from his part. Longs unite! lol

Mr. Ni

I would to congratulate you on behalf of the shareholders for winning the auction for the assets of A123 Systems. Being a Canadian of French descent, I love to see foreign business owners thrive in the great U.S.A.

We, the shareholders who believed in this company even thru the bankruptcy protection/ auction can only hope that your more that reputable company will not leave us empty handed. That being said I know you are a very busy man and cannot divulge information although protecting some of the shareholder value could sway CFIUS in your favor.

To the continued prosper of Wanxiang,

-Scott Carrier

Some one with better english grammar then I should contact mr. Ni and let him know how much good PR he would get from leaving the commons intact, and it just might sway CFIUS : )

A Chinese company has won a politically charged auction for nearly all of A123 Systems Inc., the Waltham batter maker that filed for bankruptcy protection after receiving hundreds of millions of dollars of government support, said an adviser who was at the auction.

Wanxiang Group, an auto parts conglomerate, outbid Johnson Controls Inc., of Milwaukee, and Japan’s NEC Corp., which had teamed up to bid for A123’s assets, according to the adviser, who was not authorized to speak publicly because the deal has not been finalized.

Among the assets Wanxiang will buy are two plants in Michigan that were largely financed by US taxpayers. Wanxiang will not get A123’s assets related to defense contracts. Those will go to another bidder, Navitas Systems LLC, an Illinois battery company, according to the adviser.

Together, the two deals are valued at upward of $250 million, the adviser said. A sales hearing before a bankruptcy judge in Delaware is scheduled for Tuesday.


Representatives for Wanxiang and A123 could not immediately be reached. In a letter sent to A123 chief executive David Vieau on Nov. 15, Pin Ni, head of Wanxiang’s North American operations, said the Chinese company wanted to help A123 grow in the United States.

“We are committed to the future success of A123,” Ni wrote. “With the financial backing of Wanxiang America, the extensive US business operations of A123 will continue unabated.”

Wanxiang, China’s largest auto parts manufacturer, has courted A123 for months. In August, Wanxiang agreed to invest up to $465 million in A123 in exchange for a controlling stake in the struggling battery maker’s operations.

Wildbilly, In many of my posts I mention my bad grammar. But thank you for pointing it out, la va chier crisse de mangeur de marde.

Looking at the other stocks you are pumping doesn't help my confidence in AONE.

Sorry if I sound ignorant, but I have been doing DD every day for months with this company. If they sold all their assets, commercial, transport and grid... how will they make money? Wouldn't it be an empty shell at that point?

Sorry for my bad grammar,

That would be a great outcome, assuming Wanxiang doesn't absort the assets and disolve A123. But it doesnt seem to be a likely outcome. fingers crossed

Wow, you have not been following this at all have you? 315-340M outstanding shares, and we get paid AFTER most debt. So thats about - (minus) 20 cents a share

Did you not read the updated articles a few posts back? The source estimates that the winning bid was 250-260M. I am a shareholder with a rather large amount at a much higher price and I really hope that that "250-260" was the longest typo in history

This is bad, no turkey for me this year. Please let their be a christmas miracle

I tought that the government contract was only worth 7M. Am I wrong? Or are there other ones than the air force one I'm referring to?

The buy out fell short of their original 465M offer in august. Great, that wont help my sleep at all.

Chinese firm Wanxiang has emerged as the winner of bankrupt battery-maker A123's assets after a days long auction that lasted until nearly 4 a.m. today.

A123, the recipient of a $249.1 million federal grant and tens of millions of dollars in tax credits from Michigan, drew U.S. and foreign bidders against the backdrop of growing pressure from military leaders and politicians to block U.S.-funded technology from being transferred outside the country.

Johnson Controls of Milwaukee teamed up with NEC of Japan to try to best the bid of Wanxiang Group Corp., a Chinese auto parts maker whose North American headquarters is in Elgin, Ill., according to Charles Gassenheimer, the former CEO of battery maker Ener1 who helped broker the Wanxiang deal.

Wanxiang removed all U.S. government contracts in purchasing A123's assets. Another company, a spin off of MicroSun technologies, purchased those assets, he said.

Gassenheimer said the bidding was close and intense but that ultimately Johnson Controls said it would cut jobs in Michigan and Wanxiang said it would not.

A123's board is meeting to approve the deal and more information is expected shortly.

Gassenheimer would not say exactly how much Wanxiang paid for A123's assets but said it ended up being short of the $465 million it agreed to invest in August, prior to the bankruptcy. A123 backed out of that deal in favor of a new deal with Johnson Controls, apparently over concerns that the Chinese firm would not garner the necessary government approvals.

Copyright © 2012 Chicago Tribune Company, LLC

Do you guys think the auction is being worked on during the weekend? I would imagine since they are all there for that purpose alone that it is. Then again lawyers are often paid to wait.

Sorry about the grammar,

Just read the last f'n 10 post. This board is driving me nuts with all the lazy people. THank god for the informative ones.

Holding 275k from a higher price, you and your background helped me not panic sell, thank you.

I remeber reading that their where only 700k shares available to short thru brokers. Altho like most things I've read on the forums it was probably missinformed and false.


P.s. Sorry if my french is butchering the english grammar.

False, "Wanxiang America, which bidding alongside Milwaukee's Johnson Controls Inc. JCI +1.21% and others, said its offer would best preserve the "integrity" of the battery maker and the jobs of A123's 2,400 employees." Source, online wall street journal Nov 19.

Stokjockey,

This was not official. It was from wallstreet journal online 19 nov.

"The Chinese auto-parts maker has offered about $131 million for A123's assets, excluding its government business, according to a person familiar with the Wanxiang proposal."

You do not understand correctly.

Thank you for saying everyrhing I'm thinking.

122 000 000.

This is translated from Japanese so dont mind the gramar. I like it, enjoy. (from http://www3.nhk.or.jp/news/html/20121129/k10013830751000.html)

Acquisitions of U.S. companies aim accumulator NEC
November 29, 20:04 minutes

Since the increase in demand to strengthen the business of "storage battery" is expected globally, NEC's major electronics manufacturers, the policy to participate in the bidding to determine the buyer of the business of manufacturers storage battery was an American bankruptcy, aim the acquisition hardened.

Of business of the manufacturer "A123 Systems' battery of America, NEC aims for the acquisition is a business such as a battery to be used for" smart grid "is a next-generation power grid.
Last Mon, "A123 Systems" is expected to make bids early next month filed for Chapter 11 bankruptcy hitting the Civil Rehabilitation Law of Japan, decide where the sale of the business.
That's according to people familiar with the matter, NEC has decided to aim for the acquisition to participate in this tender, the amount applied to the acquisition is that there is a possibility that more than ¥ 10 billion in the end.
"Smart Grid", the demand for storage battery serves to supply power when it is a power grid generation essential to the spread of renewable energy such as solar power generation amount fell under the influence, such as weather World It is expected to rise on their own.
I found this for, shall NEC to strengthen its business through acquisitions storage battery, is aimed to raise new revenue to the pillar of the sale of smart grid-related system.
However, seen in the bidding companies to participate in the U.S., Europe and Asia, is also expected to be a fierce battle.