Centerline Holding Company Amends Acquisition Negotiation Agreement with Hunt
New York, NY - May 17, 2013 - Centerline Holding Company (CLNH) ("Centerline" or the "Company") today announced that its Board of Trustees has amended its negotiation agreement with Hunt Capital Partners, LLC, an affiliate of Hunt Companies, Inc. ("Hunt"). Hunt is interested in acquiring complete ownership of the Company.
In consideration of the substantial time and resources devoted by the Parties and their respective Representatives to negotiate in good faith with Hunt to attempt to enter a definitive agreement with respect to the proposed Transaction, the agreement that precludes the Company from exploring other alternatives was extended to 11:59 p.m. EDT on May 22, 2013 (from11:59 p.m. EDT on May 16, 2013.
The negotiations with Hunt are ongoing and there can be no assurance with respect to the terms or the timing of any transaction, or whether conditions to closing, including third party consents, will be satisfied and a transaction will be concluded at all.
As a matter of policy, the Company does not comment on or provide the market with updates as to the status of the negotiations with Hunt, nor will it comment upon any rumors with regard to either of the foregoing or make a further announcement regarding the Board`s consideration of any transaction with Hunt until such time, if ever, that it enters into a definitive agreement for a completed transaction or is otherwise required to make an announcement.
http://finance.yahoo.com/news/centerline-holding-company-amends-acquisition-212006573.html
Sentiment: Strong Buy
cuznbruce1, good luck to you also. You have a great day.
Sentiment: Strong Buy
rycotechapel, well stated post. I have not thought of it that way.
Sentiment: Strong Buy
rycotechapel, hiring Lisa Roberts was a great move for the company as she knows what she is doing with the financials.
Sentiment: Strong Buy
yawhodid. If and that's a "BIG IF" QE3 ends soon this would hurt the company for sure. We are heading into a deflationary period, so the Fed is not going to stop QE anytime soon. Look at the reports that came out today. The only bright spot was April housing permits were over a million. The rest of the reports were DOWN. This company should and will look into other opportunities before the Fed raises rates. Mr. Falcone is fully aware that rising rates would hurt here. They have time on their side at the moment. Most here are fully aware that rising rates would not be good here. The stock will see $2.00 in two weeks.
Sentiment: Strong Buy
murphyqu03, thanks and to everyone else on this board has been of help also. If interest rates keep holding down this will be a great turnaround. I hold a sizable core position and I have my day trades with this one also. I have been holding for a long time. My average is $0.155, so I am very happy to own this one. Not planning on selling my core position for quite some time. These turnaround plays only come once in a lifetime. I have been holding for a long time now. It's kinda been a live changer for me.
Sentiment: Strong Buy
murphyqu03, I am expecting it to go to around the $2.00 mark. MMAB is in a sweet spot now in this deflationary period we are starting to see happening.
Sentiment: Strong Buy
sheetwise, we should. Future investors may wait until after they hear the conference call on Tuesday to purchase shares. It usually takes a few days and up to a week for the market to realize this is undervalued after they issue the Q's. This company is slowly coming back.
Sentiment: Strong Buy
Company's common book value per share at March 31, 2013 was $2.23, as compared to a common book value per share at December 31, 2012 of $1.06.
http://finance.yahoo.com/news/munimae-announces-first-quarter-2013-200000434.html
Sentiment: Strong Buy
CLNH getting bought out. Will that happen here???
Sentiment: Strong Buy
jbcpm, I'm almost positive that our offer will not be any less than the $39.85 that Hunt paid for the 41% they recently acquired. It could be a bit higher.
Sentiment: Strong Buy
Centerline Holding Company Announces Acquisition Negotiations with Hunt
New York, NY - May 14, 2013 - Centerline Holding Company (CLNH) ("Centerline" or the "Company") today announced that its Board of Trustees has authorized the commencement of negotiations with Hunt Capital Partners, LLC, an affiliate of Hunt Companies, Inc. ("Hunt") after Hunt informed the Company of its interest in acquiring complete ownership of the Company. An affiliate of Hunt previously acquired 978,274 of the Company`s Common Shares, representing approximately 41% of the Common Shares outstanding. The Company intends to pursue its negotiations with Hunt with the goal of maximizing shareholder value.
Centerline has entered into a standstill and exclusivity agreement with Hunt which obligates the Company to negotiate in good faith with Hunt to attempt to reach mutual agreement on a Transaction and precludes the Company from exploring other alternatives until 11:59 p.m. EDT on May 16, 2013. Hunt indicated an interest in acquiring the remaining ownership of the Company.
The negotiations with Hunt are ongoing and there can be no assurance with respect to the terms or the timing of any transaction, or whether conditions to closing, including third party consents, will be satisfied and a transaction will be concluded at all.
As a matter of policy, the Company does not comment on or provide the market with updates as to the status of the negotiations with Hunt, nor will it comment upon any rumors with regard to either of the foregoing or make a further announcement regarding the Board`s consideration of any transaction with Hunt until such time, if ever, that it enters into a definitive agreement for a completed transaction or is otherwise required to make an announcement.
Purpose of Transaction.
On April 22, 2013, C3 Initial Assets LLC (“ Initial Assets”) and C-III Capital Partners LLC (“ Capital Partners” and, together with Initial Assets, the
“Seller Parties”) entered into that certain Share Purchase Agreement (the “ Share Purchase Agreement ”) with HCP and Otsego Shares (collectively with HCP, the
“Buyer Parties”). Pursuant to the Share Purchase Agreement, Otsego Shares purchased from Initial Assets 977,644 Common Shares of the Issuer for $39.0
million in cash, which is equal to $39.89 per Common Share of the Issuer.
Sentiment: Strong Buy
onwardskyward, I agree with you, we should be trading at least around $2.00 minimum. The fed is planning to keep rates low for a long time. Talk around the street about deflation lurking. As I have stated in the past "MMAB is in the right place right now" and undervalued.
Sentiment: Strong Buy
hhh9576, time to buy when everyone is panicking and selling. Buy low, sell high.
Sentiment: Strong Buy
onwardskyward, I have been thinking the same. Deflation may be coming to the US. Japan has been in a deflationary period for over a decade now. I'm thinking that this company is in the right place for now with it's tax free muni-bond portfolio. Low rates are here to stay for a LONG time. I get tired of those CNBC folks thinking that the fed will start raising rates this Summer. Not going to happen, especially with the US debt situation.
Sentiment: Strong Buy
onwardskyward, I agree 100% with your post. If interest rates were to rise our govt. could not service the tremendous debt load this country has. Low rates are here to stay for a while. I bought more of this the other day when it took that manipulated walk down dip to $1.02. If it does that dip again I will buy more.
Sentiment: Strong Buy
Thanks, darthfury78. We are not totally "out of the woods" yet on this one. There is still risk here, especially if interest rates rise. Hopefully this company can take care of some that risk before that happens. I know this risk is on Mr. Falcone's mind. Wishing you luck in your investments.
Sentiment: Strong Buy
darthfury78. you should have bought shares in an IRA account.
Sentiment: Strong Buy
88,897 shares bought @ $1.03 @ 9:34:00
50,000 shares bought @ $1.12 @ 9:46:39
Shares were traded downward pre-mkt. This was a planned drop for someone to get the shares on the cheap.
Sentiment: Strong Buy