I'm gonna have to throw up the BS flag on this.
"i heard from a friend who heard from a friend who overheard somebody say at 31 flavors last week"
The dip loan was extended through the 1st quarter of next year per court filing.
======> Public knowledge from Rogerson they want to emerge 1st quarter. Makes sense.
Chemtura spends mucho bucks hiring Lazard and others to sell assets. Multiple court filings to this effect, INCLUDING re-filing documents that were washed over with "project hoover" where asset sales were previously mentioned.
======> Rogerson says 'asset sales are preferred in february', then spends mucho bucks since May (after BK), but now says 'asset sales not a priority'. Yeah right.
The first thing i do when i want to sell something is tell a potential buyer that 'I don't have to sell it, but i will'.
Translation: It's for sale but don't lowball me. Gimme fair value.
If I was Rogerson i'd be telling whoever that I didn't have to sell anything, as it makes the company seem to be in a stronger position.
But the fact remains that if the credit markets are still tight, then they have no other choice but to sell off assets or give it away to debt holders.
I'd rather sell it off.
PVC and Crop are gone. Either that or someone ought to tell Rogerson to quit pissin money away on it.
As far as expansions, they wont be doing any without any credit or cash, so i think it's safe to say that won't be happening until they sell something or the credit markets start feelings very generous.
