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Focus Media Holding Ltd. Message Board

gdx100 3 posts  |  Last Activity: Jul 7, 2015 2:46 PM Member since: Jul 25, 2012
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  • gdx100 gdx100 Jul 7, 2015 2:46 PM Flag

    If for some reason they did not have the votes, they certainly will have them by the time of the vote. The $29.75 is looking better by the minute. However, the postponement was to give them time to pay extortion to the ambulance chasing class action bar. Once that gets done, the deal moves forward. The biggest threat to the deal is not the vote, but financing, and pursuant to the proxy, financing is locked up tight with known players (see below).

    " In connection with the financing of the Merger, Investor has entered into an Equity Commitment Letter (as defined below in the section of this proxy statement captioned "The Merger—Financing of the Merger—Equity Financing"), dated as of April 30, 2015, with Beijing Integrated Circuit Design Packaging and Testing Equity Investment Center (Limited Partnership), an affiliate of Hua Capital ("Beijing Integrated Circuit"), CITIC Capital MB Investment Limited, an affiliate of CITIC Capital ("CITIC Capital MB"), and Neptune Connection Limited, an affiliate of Goldstone ("Neptune"), for an aggregate equity commitment of approximately $1.1 billion. For more information, see the section of this proxy statement captioned "The Merger—Financing of the Merger."

    In connection with the financing of the Merger, Investor has received a Debt Commitment Letter (as defined below in the section of this proxy statement captioned "The Merger—Financing of the Merger—Debt Financing") from Bank of China Limited, Macau Branch, and China Merchants:"

  • gdx100 gdx100 Jul 6, 2015 1:30 PM Flag

    You have to resolve litigation before closing. This is a game class action firms play when M&A is announced. The typical settlement is payment of legal fees, usually around $500,000, and some minor change in the proxy language that allegedly benefits shareholders. No money is allocated to shareholders only the lawyers who brought the original action. This will be resolved, but I suspect at this point the parties are still haggling over how much legal fees need to be paid to make the firm go away. Hence the motion to ratchet up some pressure on OVTI management to settle.

  • Reply to

    Not much action for a company being bought out,,?

    by mabelleray Jun 24, 2015 11:41 AM
    gdx100 gdx100 Jun 25, 2015 9:03 AM Flag

    You will not see much price movement until you hear from the special committee which will either accept, reject or counter the offer. Assuming acceptance or counter, the price will move at that point. If that goes forward, the next price movement will be at the shareholder vote. Assuming acceptance that will probably narrow the gap between share price and offer to about $.05 to $.10. until closing. You always have a large arb. spread on Chinese small cap MBO's because all are greeted with skepticism until the above events occur.