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Thursday, August 08, 2013 2:11:04 PM
http://seekingalpha.com/article/1609142-wsp-holdings-will-reward-short-sellers-soon
Recommendation: Short WSP Holdings (NYSE: WH)
Catalysts: NYSE Delisting; termination of merger agreement after August 21; failure to obtain waivers for credit facilities from the bank
6-Month Target Price: $1.5 or less
Thesis
WSP Holdings (WH) is likely to terminate the merger agreement within a month. Judging by the current prices, investors seem to be confident that the deal will not fall through. However, the stock follows the exact trajectory that China Advanced Construction Material (CADC) took a year ago before CADC cancelled the going-private deal. Furthermore, the company has been in breach of the debt covenants since June 2012 and whether the company is a going concern remains a question. Last but not least, the stock is likely to be delisted from NYSE because the company may fail to file its annual report within the 6-month grace period. If any one of the three events occurs, the shares are likely to trade below the price level immediately before the announcement of the going-private offer.
Recent WH News
- Stunning Dolce by Wyndham Versailles Opens in Famed Domaine Du Montcel Park • PR Newswire (US) • 06/27/2024 12:00:00 PM
- Wyndham Opens First Dolce Hotel in Türkiye • PR Newswire (US) • 06/26/2024 12:00:00 PM
- WYNDHAM HOTELS & RESORTS TO REPORT SECOND QUARTER 2024 EARNINGS ON JULY 24, 2024 • PR Newswire (US) • 06/26/2024 10:30:00 AM
- Wyndham Rewards Unveils Summer's Hottest Travel Deal: 30 Nights of Hotel Stays for $499 • PR Newswire (US) • 06/20/2024 12:00:00 PM
- Artist Vincent Ballentine Selected to Help Honor Greensboro Six; Unveils Concept for Wyndham Rewards Commissioned Mural • PR Newswire (US) • 06/17/2024 06:00:00 PM
- Sam Nazarian's sbe Unveil First Sites for Project HQ in Montreux, Switzerland and Detroit, Michigan • PR Newswire (US) • 06/05/2024 03:41:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/03/2024 08:58:48 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/03/2024 08:58:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/29/2024 08:29:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/29/2024 08:28:26 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/28/2024 10:53:07 AM
- WYNDHAM HOTELS & RESORTS COMPLETES SUCCESSFUL DEBT REPRICING AND UPSIZING • PR Newswire (US) • 05/28/2024 10:30:00 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/24/2024 05:48:38 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/24/2024 05:11:40 PM
- Wyndham Hotels & Resorts Appoints Amit Sripathi Chief Development Officer • PR Newswire (US) • 05/17/2024 01:00:00 PM
- Wyndham and Decameron Team Up to Expand All-Inclusive Offerings • PR Newswire (Canada) • 05/14/2024 01:00:00 PM
- Wyndham and Decameron Team Up to Expand All-Inclusive Offerings • PR Newswire (US) • 05/14/2024 01:00:00 PM
- WYNDHAM HOTELS & RESORTS DECLARES QUARTERLY CASH DIVIDEND • PR Newswire (US) • 05/09/2024 08:30:00 PM
- Sabre Hospitality renews Wyndham following accelerated migration • PR Newswire (US) • 05/01/2024 12:30:00 PM
- WYNDHAM HOTELS & RESORTS REPORTS STRONG FIRST QUARTER RESULTS • PR Newswire (US) • 04/24/2024 08:10:00 PM
- Wyndham Rewards Unveils Finalists for Gillespie Wall Mural Honoring Greensboro Six • PR Newswire (US) • 04/18/2024 12:06:00 PM
- Wyndham Brings Rewards to its Business Program, Simplifies Travel for Businesses of All Sizes • PR Newswire (US) • 04/16/2024 12:30:00 PM
- Wyndham Alltra Opens Newest Resort on Coast of the Dominican's Samaná Peninsula • PR Newswire (US) • 04/15/2024 12:00:00 PM
- Wyndham Hotels & Resorts Appoints Scott Strickland Chief Commercial Officer • PR Newswire (US) • 04/09/2024 03:00:00 PM
- Wyndham Enters Upscale Extended Stay with WaterWalk • PR Newswire (US) • 04/02/2024 12:00:00 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM
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Branded Legacy, Inc. and Hemp Emu Announce Strategic Partnership to Enhance CBD Product Manufacturing • BLEG • Jun 27, 2024 8:30 AM
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HealthLynked Promotes Bill Crupi to Chief Operating Officer • HLYK • Jun 26, 2024 8:00 AM