my investment thesis hasn't changed and holding all of it. there is money on the table. i see what the proposal says about equity. did i expect them to say anything else? no. if they said yes equity will survive, then they had to explain so much more in such a rush (they have 5 months left to bring it to fruition)
MILTON, Ga., Nov. 4, 2014 (GLOBE NEWSWIRE) -- Exide Technologies (XIDEQ) (www.exide.com) (the "Company"), a global leader in stored electrical-energy solutions, announced today that it entered into a plan support agreement ("PSA") and allow Exide to emerge from Chapter 11 substantially in its current form -- operating across all of its existing business segments.
In addition, Exide has initiated the sales process contemplated by the terms of Amendment No. 8 of its DIP facility, which the U.S. Bankruptcy Court approved on October 31, 2014, by soliciting potential interest from third parties for a sale of the Company's businesses. This dual-track process will allow Exide to ensure that it has explored opportunities to maximize estate value.
Exide's goal is to emerge from the Chapter 11 restructuring of its U.S. operations by March 31, 2015.
but we are part of debtors worldwide estate and not just us operations. did they missed that? is it that subtle that they missed it? no..
this release is sudden, unanticipated due to the howling of unsecured creditors. playing a chess game imo. don't forget that it also says about exploring sale of the company or to say a merger. my bet is a merger. i read in one of the docket, a term like hopskocth? and other terms (that i was not familiar with) that led me to tax inversion kind of thing. it is therefore possible that they already have a buyer and thus gave themselves so little time as evident by unsecured guys pointing to the judge last week that it is very little time. well not really if they already have a buyer. all of the assets are strategic to a foreign buyer with so many assets abroad. who knows. i may be wrong. please do your own due diligence but share it. i do not think i am blindly in love with this stock. please do/invest what you can live with assuming it is all gone. there are lots of crooks out there. as i have said, i don't know what will happen, but i do know what should happen.
