by: Havehunchbuybunch// "On this consent issue. I think long and hard about the facts as we know them and are as follows:
Fact: the company had been very diligently trying to obtain consent.
Fact: on two separate occasions, when they felt that consent was not or would not be obtained prior to the expiration, ie, in THEIR JUDGEMENT AND THE JUDGEMENT OF COUNSEL, it would not be obtained prior to expiration, such expiration date was extended, in one case by two weeks (because they were far apart and early in the process) and in the second case by one week (because they were significantly closer to obtaining it).
Fact: yesterday, the consent solicitation expired with no expiration announced by the company.
Assumption: it is probably safe to assume that management have not been hit on the head collectively by a brick and that counsel has not undertaken heavy drug use and is still cognizant of legal matters.
Assumption: they did not renew the consent solicitation because to do so would be superfluous and unneccessary. This could be because 1) either they are extremely close, as defined in quasi 'legal' terms and such consent either has been in principle approved and we are ironing out non-material details, or 2) all the members that would be impacted by such extension have been duly notified in private, and/or are part of the ongoing proceedings, or 3) the deal has changed so that they don't need such consent.
That's it I think. Those are the possibilities. I just don't know how this can be 'spun' negatively. They are half pregnant right now and IMO we'll hear from them soon. Why the market is behaving like this is because the market does not like uncertainty,and there are people who have a right to make money by exploiting such uncertainty, and there are people who are perfectly willing to pick up 1/4 point or 1/2 point while risking not being in the stock for a possible sizable gap-up which can come suddenly and at anytime.
It's as simple as that.
All imo."
THANKS, HHBB
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