ENRON! quasi quasi ora... - Gzibordi
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By: GZ on Mercoledì 28 Novembre 2001 12:24
la tentazione di comprare ENRON solo perchè da 70 dollari è scesa a 4 o 5 dollari
non è logica a meno di non capire qualche cosa della faccenda che è intricata
si tratta di uno dei più grossi pasticci mai
avvenuti alla borsa di NY e sono contento di averne parlato (di ENRON) finora
Detto questo quando completa il setup di 9 giornate proverei come puro trade tecnico
nel frattempo segnalo la discussione tra quelli che se ne intendono di più
che conosco
come si vede è una situazione in cui l'acquisizione è un disastro per DYN,
ma se passa non c'è dubbio che ENRON possa avere un rimbalzo secco del 30%
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Chris, Peter -- I stand by what I said yesterday on Dynergy-Enron: If Dynergy closes this deal, they're crazy. And they'll be *buried* under DUN shareholder lawsuits.
Simple fact is that there is no way to do due diligence on this one -- the old shifting-sands problem.
DYN management had better plan to decamp to a country where there are no extradition treaties, if this one closes....
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Peter Eavis
Rock and a Hard Place
11/27/01 5:15 PM ET
Chris -- You are absolutely right in saying that there is no painless solution to the Enron problem. The more you look at this the more you have to conclude that DYN did it because it had to. By the way, news out that lots of big name investors -- like Blackstone and Prince Alwaleed -- declined to put in the extra billions Enron's bankers were looking for. When do Chase JPM and Citi start getting hit because of all this? If JPM were to pony up anymore cash for Enron, esp. if it is in unsecured equity, I see bank stock investors exiting that name.
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Christopher Edmonds
DYN/ENE
11/27/01 4:54 PM ET
Peter -- you are right that an additional equity cash infusion from Dynegy that is unsecured would be a signal that of Dynegy's complete commitment to the deal for Enron.
It would also likely be suicide. First, without Chevron (which would not agree I suggest), Dynegy hasnt any ability to make such a move -- secured or unsecured....Second, that kind of infusion would send many Dynegy shareholders running for the hills, ruining the exchange balance.
Therein is the problem with this deal -- too many moving parts with moving valuations with new surprises everyday.
The only reason this deal gets done is there are too many parties that will feel the sting if it doesnt. Unfortunately, even when it gets done, there are a lot of parties that will potentially feel a lot of pain...
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