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Prosperity Bancshares Inc. Message Board

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  • iownsome iownsome Feb 5, 2003 12:46 PM Flag

    if there was a problem with the deal

    Wasn't the deal going to close the 1st quarter? Now it's the second. There's been a delay??

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    • I think the Venezuelan strike would cause a certain amount of delay but there wasn't anything to indicate that this deal wasn't going to get done eventually. I've been involved in lots of takeover plays and the worst ones are the utilities where the regulatory boards are notorious for taking their sweet time in approving these deals. So a bit of delay isn't really that bad imho. Still have to be prepared for some gut wrenching. Nothing is ever written in stone with these mergers.

    • From the december 24 release

      "The Merger is expected to be completed in the second quarter of 2003, although no assurance can be given as to whether or when the Merger will actually be consummated. "

      It was always supposed to be in the 2nd quarter.

      • 2 Replies to drblazebarlovv
      • i recall hearing 3-4 months, which would include the beginning of the 2nd quarter, but you got it nailed

      • I worked for the Coca-Cola Co. in Mexico City for a year so I was in the beverage industry environment for a bit and honestly I think this a done deal..

        I also grew up in Brazil and my father is an active businessman in the restaurant industry in Brazil and he tells me Latin American anti-trust authoritities are typically not very aggressive (not that this is really an anti-trust issue to begin with, but u never know)..

        Of course that's no guarantee but trading is always a probabilities game and I think the end of the strike in Venezuela will tip things in our favor..of course PB hasn't officially announced they will open their plants and Cisneros (big PB shareholder in VZ) really hates Chavez, but from reading the online Venezuelan newspapers the strikers are scraping the bottom of the barrel now, with the banks defecting the momentum is completely against them..

        Just my opinion, do your own DD

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