I will repeat the question that I asked earlier.
My questions were dismissed because people thought
that Berkshire was not going down any further. Which
it did promptly, and I was right.
the chances of GRN shareholders NOT approving
deal if BRK continues tanking?
I mean, at the
current price, BRK is really way down and GRN
shareholders seem to get a pretty raw deal, if you ask
What is the likelihood that the merger will be blocked
by GRN shareholder lawsuits?
Let me say first that I hope it doesn't fall
through because I am the proud owner of GRN stock
(purchase price $239 3/4), unless, of course, that GRN
should track back up if the merger is cancelled (by the
way, I just voted FOR the merger on my GRN proxy). But
I sure wouldn't buy GRN here; I'd rather have BRK,
since the shares are almost trading at parity. Yes, GRN
shareholders are getting a raw deal at these prices. I can't
speak for others, but, as of now, I haven't filed suit
to block the merger. ljh
when do they give us the news?
been my secret fear that web made TOO good a deal.
that's the hitch to these negotiations. negotiate too
well & you come up with a lost deal. if deal falls
through, then we have a bigger share of our assets in this
worldwide financial morass. & i fear gen re stockholders
don't want to own this either. but either way, web will
have some cash to hunt bargains.
<<< Let me say first that I hope it
doesn't fall through because I am the proud owner of GRN
stock (purchase price $239 3/4), unless, of course,
that GRN should track back up if the merger is
cancelled (by the way, I just voted FOR the merger on my
GRN proxy). But I sure wouldn't buy GRN here; I'd
rather have BRK, since the shares are almost trading at
parity. Yes, GRN shareholders are getting a raw deal at
these prices. I can't speak for others, but, as of now,
I haven't filed suit to block the merger. ljh
Your irony is well taken...
Well, perhaps the
GRN-owning part of you would make more if you voted against
the merger now. My impression is that GRN shares
could fetch more if GRN was put up for auction. And
they could buy BRK stock individually, although that
would have different tax implications.
sure, Buffett and Ron Ferguson got a good deal, but I
do not think that GRN shareholders did. As a owner
of BRK I am reasonably happy about this, but I am
afraid that GRN owners may disagree.
Good luck to
Assuming that BRK is overvalued, GRN is fairly
valued, and the merger does not go through... GRN will go
up and BRK should go down. In which case I'd sell
GRN and buy BRK and hopefully come out with more
shares of BRK than if I sold & bought today.
<<WEB SUCKS ! >>
it. There is EXTREME selling pressure on almost every
stock. Only a few have weathered it better than the
averages. Brk will follow the general market sentiment
until people realize that they are better off letting
Buffet manage their money.
One other thing. Who
says Buffet is not allowed to sell? We won't know if
HE is driving down the price of Coke, Gillette, etc.
Rumor has it he already bailed out of Travelors. I
know, I know... he said he'll never sell his core
Hi bobo, long time no speak. Hope all is well
with all y'all.
I don't watch the talking heads
so I'm basing this on your post. My take on the
Russian panic isn't so much that the rouble is collapsing
(which it seems to be, and I hear that US$ seem to be
the *real* currency there now) but that political
stability is in question (so, what else is new?). I read a
statistic (right or wrong) that the Russian GDP is around
that of the Netherlands or so. Don't have the numbers
to confirm that, but you get the point.
what we need. If yeltsin goes and some Russian Mafia
coalition controls the Duma & the presidency, who's got
their finger on them nukes?
might have a lot of interest and trade with Russia, I
think. That might be a bigger fear; no one wants to see
China devalue, because that might set off a whole new
round of asian devaluations. It still might happen.
That flood they got ain't pretty. Makes the missippi
river floods from a few years back look like a wading
Domino effect, I guess, is the big fear. Maybe it's the
(ex)communist revenge? Who knows.
Money flows don't
*have* to be rational. If they were, we couldn't be
value players, now, could we?
"By all accounts the weather in
China is even worse than their censors will admit. I
expect that disease and hunger will
Well, they're probably not the only spot in the hood
where that's the case. I wonder what's happening in
Indonesia right now for instance -- not necessarily
weather-wise, but just plain pain & hunger.
The number I
heard on the radio was that 20% of China's population
is affected directly by the flood. If that's true,
then think: China's got around 20-25% of the world's
population. So we're looking at a full 4-5% of the world's
population being affected by this single flood!
rice futures & such, I don't know anything about
commodities. If it gets bad enough, there are also the
international relief agencies (e.g., like in N. Korea). They do
eat wheat in China, you know.
What a freaking
mess this planet is! Probably always was when we
weren't paying attention.
btw, the folks in s & n
carolina probably aren't feeling too damned good either
'bout now. Which brings us back to topic; how about
BRK's reinsurance exposure to hurricane season? Looks
like it might be a doozy this
..........as always, an interesting post from
you. By all accounts the weather in China is even
worse than their censors will admit. I expect that
disease and hunger will follow. We've got plenty of
medicine and plenty of grain; so President Gore will be
holding Aces wired in the hole when he eventually meets
with the Chinese. Perhaps WEB is buying rice futures
tonight. The beat goes on...........bobo
The merger calls for each GRN share to be
converted into 0.0035 of a BRK.A share. GRN is now $207.5,
and BRK.A is $60,500. 0.0035 of $60,500 is $211.75
(higher than GRN at $207.5 right now). Therefore, it is
to GRN shareholders' advantage to approve the deal
(at current prices). GRN shareholders don't get a raw
deal, BRK shareholders do.
<<<Assuming that BRK is overvalued, GRN
is fairly valued, and the merger does not go
through... GRN will go up and BRK should go down. In which
case I'd sell GRN and buy BRK and hopefully come out
with more shares of BRK than if I sold & bought today.
I see your point, but I have a problem with your
statement. The two things:
1) Buying GRN in hopes
that you will end up owning BRK and the merger
2) Hoping that the merger fails since you are afraid
that BRK is overvalued
Do not quite logically
support each other. Am I missing something?