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Should OWRS retract their bid?

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  • Should OWRS retract their bid?

    Since OWRS included plenty of "outs" in their bid for CART, and since no other offers have emerged, shouldn't they retract their bid and submit a lower one?

    The stock now regularly trades well below the offer price. Wouldn't it make business sense to lower the bid to the lowest recent price of $.25 a share? Why pay more than the current market price with no competetive bids?

    speedvis and Wilke please help me understand.

    Thanks in advance.

  • #2
    my guess is that you may get the stock holders approval @ $.56 per share, but if you try to low ball you're going to pizz off Vaninni and company to the point of wanting to liquidate rather than sell
    Delta Force Theme... https://www.youtube.com/watch?v=SQUeQOIlcDM You're Welcome


    • #3
      Time - OWRS already wont get the keys until December, if things run smoothly. They just cant wait any longer and hope to have any chance of keeping things together for next season.

      SEC - Would get mighty irked with a withdrawl, and lower amount paid to shareholders.

      Jail - Everyones fingers are crossed that no one shuffles to prison. Just let it ride out quietly and quickly and get it over before anyone notices how the shareholders were suckered out of millions.
      "OWRS did not return phone calls."


      • #4
        An interesting question but in reality the difference in purchase price between .25 and .50 is in the single digit millions.
        It will take WAY more than that to keep CART alive for the coming years. That's the big question, where and why??
        Road racing is doomed...what this country needs is a big new racetrack designed for automobiles instead of horses. C.G. Fisher


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