No news as to today's big drop. Similar large drop a while ago with a partial recovery later. Concerns include: overall delay in getting deal done since announced in February; delays in issuing a final proxy & vote date; delays in filing financial statements; very little communication from management in recent months. As a management buyout, there is no 3rd party motivated to keep progress on track. Add the usual risks seen in Chinese stocks. Yahoo finance was showing Sept 23rd to be an earnings reporting date, not sure what that based upon.
1) Reduced buyout price: Not so likely...While some consider this to be a fairly leveraged deal, most of the obstacles relate union issues not pricing concerns.
2) Long time to settle: What I am expecting. May be the best we can hope for at this point.
3) No deal: Possible, yet with the premium to CTB's pre-deal price, I think CTB management has a lot of incentive to work this one through. If India decides to muck up the works, then the risk of outright deal failure worsens.