The offering has so far just been made to depositors only. They have received 45% just from this limited market. Now offering is extended to Investment Community, where I beleive they will still hit midpoint of offering .......We'll know the out come soon (middle of Jan)
i, not a depositor but a long-suffering shareholder, received stock solicitations in early december. as i said, i have no interest and i doubt any old shareholders will, either. the only way s.o. and allb have any hope to get this done is the old-fashioned way: illegal, under-the-table promises that allb will pay up for its stock as soon as it can. since the franchise, under its current management, is worth ZERO, it's just an issue of how much of the old equity gets eaten by the new buyers. s.o. and allb have to make this attractive for the new buyers to get the deal done so my guess is they will come in at the very bottom of the range if they get there at all.
you are operating under the assumption (as was i, for years) that management gives a damn about shareholders. this is not the case. remember, i am still a shareholder. i was hoping you'd buy my stock at 23.75.
What are the chances that this deal does not get completed at the mid-pount (or better) and by 2/1/07? I would think it would be fairly easy for the inv. banks to sell a bit over 1,000,000 shares in the open market. After all, they want to earn their fees, don't they?
I agree with you that ALLB does appear to be a "steal" here if they sell at the mid-point. However, just wondering whether it is too good to be true? Your thoughts?