COOP News (ehemals: Wamu /WMIH)

Aha, darf man fragen, wie Du darauf kommst? Im Merger Agreement ist doch festgehalten, dass alle noch laufenden Verhandlungen mit anderen Firmen unverzüglich beendet werden müssen.

[...]

Wo steht das? Wenn du das meinst:

https://www.sec.gov/Archives/edgar/data/933136/...40/d539539dex21.htm

(d) make any acquisition (whether by merger, consolidation or acquisition of stock or assets) of any interest in any Person or any division or assets thereof that would reasonably be expected to prevent, materially delay or materially impair the consummation of the Merger;

(e) enter into any business outside of the existing business maintained by Parent or any of its Subsidiaries as of the date hereof;

Da steht nur, kein Zukauf, der den Merger negativ beeinflussen würde (verzögern, in Gefahr bringen), und auch kein neues Geschäft außerhalb der bisherigen.

Also warum sollten sie nicht noch vor dem Merger ein weiteres Reinsurance Sub (WMMRC ist ja nur noch im Runoff-Mode) zukaufen dürfen?!?

Außerdem, irgendwie müssen sie ja auf die $4 kommen für den Global Select Market, wenn ein Reverse Split in den Merger Dokumenten untersagt ist.

 

... none of Parent and Merger Sub shall, nor shall Parent permit any of its Subsidiaries to:

[...]

(d)...

 

BOD von Nationstar kann auch in ihre papieren Gewinn verstecken und den Preis nach unten drücken um bevorstehende Merger anzupassen.

Section 7.3 No Solicitation by the Company.

(a) From and after the date of this Agreement until the earlier to occur of the Effective Time and the termination of this Agreement in accordance with Article IX, and except as otherwise specifically provided for in this Agreement, the Company shall not, and shall cause its Subsidiaries not to, and shall not authorize or permit any of its officers, directors, employees or Representatives to, directly or indirectly, (i) solicit, initiate or knowingly encourage or knowingly facilitate any inquiry, proposal or offer which constitutes, or could reasonably be expected to lead to, a Company Acquisition Proposal, (ii) participate in any discussions or negotiations regarding, or furnish to any Person (other than Parent, its Affiliates and their respective Representatives) any nonpublic information relating to the Company and its Subsidiaries, in connection with any Company Acquisition Proposal or, subject to Section 7.3(e), effect a Company Adverse Recommendation Change, (iii) approve or recommend, or make any public statement approving or recommending, a Company Acquisition Proposal, (iv) enter into any letter of intent, merger agreement or other similar agreement providing for a Company Acquisition Proposal (other than an Acceptable Confidentiality Agreement) (each an “Alternative Company Acquisition Agreement”), (v) submit any Company Acquisition Proposal to a vote of the stockholders of the Company or (vi) resolve or agree to do any of the foregoing.

(b) Notwithstanding the limitations set forth in Section 7.3(a), if, prior to the time the Company Stockholder Approval is obtained, the Company receives an unsolicited bona fide written Company Acquisition Proposal that the Company Board determines in good faith, after consultation with the Company’s outside financial advisors and outside legal counsel, (i) is or could reasonably be expected to lead to a Superior Company Proposal and (ii) failure to take such action would reasonably be expected to be inconsistent with the directors’ fiduciary duties under applicable Law, then the Company may, in response to such Company Acquisition Proposal, furnish nonpublic information relating to the Company and its Subsidiaries to the Person or group (or any of their Representatives) making such Company Acquisition Proposal and engage in discussions or negotiations with such Person or group and their Representatives regarding such Company Acquisition Proposal; provided that (x) prior to furnishing any nonpublic information relating to the Company and its Subsidiaries to such Person or group or their respective Representatives, the Company enters into an Acceptable Confidentiality Agreement with the Person or group making such Company Acquisition Proposal and (y) promptly (but not more than 48 hours) after furnishing any such nonpublic information to such Person, the Company furnishes such nonpublic information to Parent (to the extent such nonpublic information has not been previously so furnished to Parent or its Representatives). Notwithstanding anything to the contrary contained in this Agreement, the Company and its Subsidiaries and the Company’s Representatives may in any event (A) seek to clarify the terms and conditions of any Company Acquisition Proposal solely to determine whether such Company Acquisition Proposal constitutes or would reasonably be expected to lead to a Superior Company Proposal and (B) inform a Person or group that has made or, to the Knowledge of the Company, is considering making, a Company Acquisition Proposal of the provisions of this Section 7.3.

(c) The Company shall promptly (and in any event within 48 hours) notify Parent after receipt of any Company Acquisition Proposal, any inquiry or proposal that would reasonably be expected to lead to a Company Acquisition Proposal or any inquiry or request for nonpublic information relating to the Company and its Subsidiaries by any Person who has made or would reasonably be expected to make a Company Acquisition Proposal and provide to Parent copies of all material correspondence and written materials sent or provided to the Company or any of its Subsidiaries relating to such Company Acquisition Proposal or such inquiry or proposal. Such notice shall indicate the identity of the Person making the proposal or offer, the material terms and conditions of any such proposal or offer and any related financing and, if applicable, the nature of the information requested pursuant to such inquiry or request. Thereafter, the Company shall keep Parent reasonably informed, on a prompt basis (and in any event within 48 hours), regarding any material changes to the status and material terms of any such proposal or offer (including any material amendments thereto or any material change to the scope or material terms or conditions thereof), and provide to Parent copies of all material correspondence and written materials sent or provided to the Company or any of its Subsidiaries relating to such proposal or offer.

(d) The Company shall, and shall cause each of its Subsidiaries to, and shall direct its Representatives to, immediately (i) cease any existing discussions or negotiations with any Person with respect to a Company Acquisition Proposal, (ii) terminate access for any Person (other than Parent, its Affiliates and their respective Representatives) to any data room and (iii) request the return or destruction of any non-public information provided to any Person (other than Parent, its Affiliates and their respective Representatives) in connection with a potential Company Acquisition Proposal.

(e) Notwithstanding anything to the contrary in this Agreement, prior to the time the Company Stockholder Approval is obtained, the Company Board may effect a Company Adverse Recommendation Change (and, in the case of a Company Acquisition Proposal that was unsolicited after the date of this Agreement and that did not result from a material breach of Section 7.3(d), terminate this Agreement pursuant to Section 9.1(d)(iii) and concurrently pay the fees required by Section 9.3 in order to enter into a definitive agreement in connection with a Superior Company Proposal) if: (i) (A) a Company Acquisition Proposal is made to the Company after the date of this Agreement and such Company Acquisition Proposal is not withdrawn prior to such Company Adverse Recommendation Change or (B) there has been a Company Intervening Event; (ii) in the case of a Company Acquisition Proposal, the Company Board concludes in good faith, after consultation with the Company’s outside financial advisors and outside legal counsel, that such Company Acquisition Proposal constitutes a Superior Company Proposal; and (iii) the Company Board concludes in good faith, after consultation with the Company’s outside legal counsel, that failure to take such action would reasonably be expected to be inconsistent with the directors’ fiduciary duties under applicable Laws.

(f) Prior to making any Company Adverse Recommendation Change or entering into any Alternative Company Acquisition Agreement, (i) the Company Board shall provide Parent at least four Business Days’ prior written notice of its intention to take such action, which notice shall specify, in reasonable detail, the identity of the Person making the proposal or offer, the reasons therefor and, in the case of a Company Acquisition Proposal, the material terms and conditions of such proposal, including a copy of any proposed definitive agreement; (ii) during the four Business Days following such written notice, the Company Board and its Representatives shall negotiate in good faith with Parent (to the extent Parent desires to negotiate) regarding any revisions to the terms of the transactions contemplated hereby proposed by Parent in response to such Superior Company Proposal or Company Intervening Event, as applicable; and (iii) at the end of the four Business Day period described in the foregoing clause (ii), the Company Board shall have concluded in good faith, after consultation with the Company’s outside legal counsel and outside financial advisors (and taking into account any adjustment or modification of the terms of this Agreement proposed in writing by Parent), that, as applicable (A) the Company Acquisition Proposal continues to be a Superior Company Proposal or (B) the Company Intervening Event continues to warrant a Company Adverse Recommendation Change and, in each case, that failure to take such action would reasonably be expected to be inconsistent with the directors’ fiduciary duties under applicable Laws. The provisions of this Section 7.3(f) shall also apply to any change to the financial or other material terms of a proposal that was previously the subject of a notice under this Section 7.3(f), and any such change shall require a new notice to Parent as described above, except that all references in this Section 7.3(f) to four Business Days shall be deemed to be three Business Days.

(g) Nothing contained in this Agreement shall prohibit the Company Board from taking and disclosing to its stockholders a position contemplated by Rule 14e-2(a) promulgated under the Exchange Act or making a statement contemplated by Item 1012(a) of Regulation M-A or Rule 14d-9 promulgated under the Exchange Act; provided, however, that this Section 7.3(g) shall not permit the Company Board to effect a Company Adverse Recommendation Change except to the extent otherwise permitted by this Section 7.3; provided, further, that a request by Parent for the Company to publicly recommend against a Company Acquisition Proposal may not be made more than once with respect to any Company Acquisition Proposal unless such Company Acquisition Proposal is subsequently materially amended or modified, in which case Parent may make one request each time such Company Acquisition Proposal is so subsequently materially amended or modified. For the avoidance of doubt, any “stop, look and listen” communication or similar communication of the type contemplated by Rule 14d-9(f) under the Exchange Act shall not constitute a Company Adverse Recommendation Change.

Section 7.4 No Solicitation by Parent.

(a) From and after the date of this Agreement until the earlier to occur of the Effective Time and the termination of this Agreement in accordance with Article IX, and except as otherwise specifically provided for in this Agreement, Parent shall not, and shall cause its Subsidiaries not to, and shall not authorize or permit any of its officers, directors, employees or Representatives to, directly or indirectly, (i) solicit, initiate or knowingly encourage or knowingly facilitate any inquiry, proposal or offer which constitutes, or could reasonably be expected to lead to, a Parent Acquisition Proposal, (ii) participate in any discussions or negotiations regarding, or furnish to any Person (other than Parent, its Affiliates and their respective Representatives) any nonpublic information relating to Parent and its Subsidiaries, in connection with any Parent Acquisition Proposal or, subject to Section 7.4(c), effect a Parent Adverse Recommendation Change, (iii) approve or recommend, or make any public statement approving or recommending, a Parent Acquisition Proposal, (iv) enter into any letter of intent, merger agreement or other similar agreement providing for a Parent Acquisition Proposal, (v) submit any Parent Acquisition Proposal to a vote of the stockholders of Parent or (vi) resolve or agree to do any of the foregoing.

(b) Parent shall, and shall cause each of its Subsidiaries to, and shall direct its Representatives to, immediately (i) cease any existing discussions or negotiations with any Person with respect to a Parent Acquisition Proposal, (ii) terminate access for any Person (other than the Company, its Affiliates and their respective Representatives) to any data room and (iii) request the return or destruction of any non-public information provided to any Person (other than the Company, its Affiliates and their respective Representatives) in connection with a potential Parent Acquisition Proposal.

(c) Notwithstanding anything to the contrary in this Agreement, prior to the time the Parent Stockholder Approval is obtained, the Parent Board may effect a Parent Adverse Recommendation Change if there has been a Parent Intervening Event.

(d) Prior to making any Parent Adverse Recommendation Change, (i) the Parent Board shall provide the Company at least four Business Days’ prior written notice of its intention to take such action, which notice shall specify, in reasonable detail, the reasons therefor; (ii) during the four Business Days following such written notice, the Parent Board and its Representatives shall negotiate in good faith with the Company (to the extent the Company desires to negotiate) regarding any revisions to the terms of the transactions contemplated hereby proposed by the Company in response to such Parent Intervening Event, as applicable; and (iii) at the end of the four Business Day period described in the foregoing clause (ii), the Parent Board shall have concluded in good faith, after consultation with Parent’s outside legal counsel and outside financial advisors (and taking into account any adjustment or modification of the terms of this Agreement proposed in writing by the Company), that the Parent Intervening Event continues to warrant a Parent Adverse Recommendation Change and, in each case, that failure to take such action would reasonably be expected to be inconsistent with the directors’ fiduciary duties under applicable Laws.

(e) Nothing contained in this Agreement shall prohibit the Parent Board from taking and disclosing to its stockholders a position contemplated by Rule 14e-2(a) promulgated under the Exchange Act or making a statement contemplated by Item 1012(a) of Regulation M-A or Rule 14d-9 promulgated under the Exchange Act; provided, however, that this Section 7.4(e) shall not permit the Parent Board to effect a Parent Adverse Recommendation Change except to the extent otherwise permitted by this Section 7.4; provided, further, that a request by the Company for Parent to publicly recommend against a Parent Acquisition Proposal may not be made more than once with respect to any Parent Acquisition Proposal unless such Parent Acquisition Proposal is subsequently materially amended or modified, in which case the Company may make one request each time such Parent Acquisition Proposal is so subsequently materially amended or modified. For the avoidance of doubt, any “stop, look and listen” communication or similar communication of the type contemplated by Rule 14d-9(f) under the Exchange Act shall not constitute a Parent Adverse Recommendation Change.

Quelle: https://www.sec.gov/Archives/edgar/data/933136/...40/d539539dex21.htm

 

Na, hoffen wir mal, dass dem nicht so ist. Schließlich untersuchen gleich mehrere Anwaltskanzleien den Deal. Und Bilanz-Betrug ist entgegen der konträren Meinung einiger Threadteilnehmer in den USA kein Kavaliersdelikt...  

7.3 zählt nicht, das ist für "the company" also Nationstar darf sich in der Zwischenzeit nicht kaufen lasssen oder in Kaufverhandlungen treten.

Und 7.4 ist auch kein Grund, da gehts nur um "Parent Acquisition Proposal", also den Erwerb der Muttergesellschaft, sprich WMIH darf sich in der Zwischenzeit nicht aufkaufen LASSEN bzw. in Verhandlungen treten, die dazu führen würden.  

 

https://www.lawinsider.com/dictionary/parent-acquisition-proposal  

ich sage WMIH darf noch vor dem Merger diverse Zukäufe, z.B. im Reinsurance-Business tätigen...  

wobei der verdacht schon nicht unbegründet ist. aber ich gehe mal davon aus so blöd waren die nicht bzw. wird es am ende ums geld gehen.  

...nachdem ich auch schon den ein oder anderen von dir bekommen habe ;-)  

Und Bilanz-Betrug ist entgegen der konträren Meinung einiger Threadteilnehmer in den USA kein Kavaliersdelikt...

Wie amerikanische Themis tickt kennen wir schon... seit fast 10 jahren.

Mann muss nicht unbedingt betrügen ,sondern in jeder Unternehmer gibts lücken wo mann Gewinn für bestimmte zeit schieben kann. Gerade du als gelernte "Fachmann" muss es wiessen... oder?

Nicht Nationstar mergt in die von WMIH gegründete Wand Merger Corporation ("Merger Sub") (was dann ein Forward Triangular Merger wäre), sondern umgekehrt, Wand mergt IN Nationstar, mit Nationstar als "surviving entity".

Das ist dann ein "Reverse Triangular Merger". Das Ergebnis ist dann aber gleich, WMIH ist Parent von der gemergten Einheit, bzw. diese ist eine 100% Tochter von WMIH

 

Forward Triangular Merger: https://www.investopedia.com/terms/f/ftm.asp
Reverse Triangular Merger: https://www.investopedia.com/terms/r/rtm.asp

Oder hier: https://investmentbank.com/triangular-mergers/  

Du glaubst, dass ein Unternehmen wie NSM, das im Besitz eines Private Equity Investors (Fortress) ist, den eigenen Gewinn bewußt herunterrechnet? Um weniger Kaufpreis für die Eigentümer zu erzielen?

Das Spiel bei PEs läuft doch genau umgekehrt...  

Wetten wir das in 2018 wird Gewinn mehr als 50 millionen?

Eines zeigt doch die Diskussion zwischen JWW und Stay:
Der eine ist Profi und lässt uns gerne an seinem Wissen teilhaben, auch wenn es manchmal schwierig ist (ausschließlich der Materie geschuldet)
Der andere ist ein Professioneller, der kein Wissen, sondern Desinformation verbreitet um die investierten hier ohne den angebrachten Respekt permanent nieder macht.

Sucht selber raus wer wer ist ...  

Bei Merger profitieren beide seiten , nicht nur WMIH. NSM bezahlt kein Steuer, vergiss es nicht.

https://investorshub.advfn.com/boards/...sg.aspx?message_id=138653715
https://investorshub.advfn.com/boards/...sg.aspx?message_id=138657454  

“Parent Acquisition Proposal” means(a) with respect to any offer, proposal or indication of interest (whether or not in writing) (a “Proposal”) made by Parent, a Proposal that if consummated would constitute an Acquisition (as defined in Article VI of the Parent Certificate of Incorporation) or (b) with respect to any Proposal made by any Person (other than Parent, the Company and its Subsidiaries) relating to or involving, whether in a single transaction or series of related transactions: (i) any direct or indirect acquisition, lease, exchange, license, transfer, disposition (including by way of liquidation or dissolution of Parent or any of its Subsidiaries) or purchase of any business, businesses or assets (including equity interests in Subsidiaries but excluding sales of assets in the ordinary course of business) of Parent or any of its Subsidiaries that constitute or account for 15% or more of the consolidated net assets of Parent and its Subsidiaries, taken as a whole; (ii) any merger, consolidation, amalgamation, share exchange, business combination, issuance of securities, sale of securities, reorganization, recapitalization, tender offer, exchange offer, liquidation, dissolution, extraordinary dividend, or similar transaction involving Parent or any of its Subsidiaries and a Person or “group” (as defined in Section 13(d) of the Exchange Act) pursuant to which the stockholders of Parent immediately preceding such transaction hold less than 85% of the equity interests in the surviving or resulting entity of such transaction immediately following such transaction; or (iii) any combination of the foregoing.

Die Definition UNSERES Merger-Agreements zu lesen war wohl zu "schwierig", oder...? ;-)

Es ist wie immer: Time will tell. Ich bin der Meinung, dass es vor der Aktionärsabstimmung zu keinem weiteren Merger kommen wird. Kauf und Aufkauf scheiden ja ohnehin aus. Wir werden in einem halben Jahr sehen, wer richtig lag... ;-)

 

Wir reden doch von 2017 und nicht von 2018 (!). Du sprachst davon, dass GEWINN VERSTECKT worden sein soll. Wie der Gewinn in 2018 ausfällt, wird sich ja erst noch zeigen. Insofern ist Deine Argumentation absoluter Nonsens.  

Nonsens ist das du dir so viel Mühe gibst ... und schreibst obwohl du nicht hier investiert bist.

Natürlich interessiert uns Alles Positive "wie es gehen könnte", das Negative kann ich mir selbst ausmalen, das Bedarf keiner Erinnerung!

"Nationstar" hatte Niemand auf dem Schirm und damit erübrigt es sich so zu tun, als wäre man ein "Insider" (da ist Fakt, Klugscheißerei hin oder her)!

Nix für ungut, Alles wir gut und ich bin 100% überzeugt, dass mein Invest von damals richtig war!

Und "BASTA" (wie Herr Schröder zu sagen pflegt)!!!


 

Also meiner Meinung nach bezieht sich sowohl a) als auch b) auf (i), (ii) und (iii) und sagt damit genau das aus, was ich sagte.

Lies nochmal:

Parent Acquisition Proposal” means

a) with respect to ...

b) with respect to...

.und dann Doppelpunkt

(i) any direct or indirect acquisition, lease, exchange, license, transfer, disposition (including by way of liquidation or dissolution of Parent or any of its Subsidiaries) or purchase of any business, businesses or assets (including equity interests in Subsidiaries but excluding sales of assets in the ordinary course of business) of Parent or any of its Subsidiaries that constitute or account for 15% or more of the consolidated net assets of Parent and its Subsidiaries, taken as a whole;

(ii) any merger, consolidation, amalgamation, share exchange, business combination, issuance of securities, sale of securities, reorganization, recapitalization, tender offer, exchange offer, liquidation, dissolution, extraordinary dividend, or similar transaction involving Parent or any of its Subsidiaries and a Person or “group” (as defined in Section 13(d) of the Exchange Act) pursuant to which the stockholders of Parent immediately preceding such transaction hold less than 85% of the equity interests in the surviving or resulting entity of such transaction immediately following such transaction; or

(iii) any combination of the foregoing.

Beide Male betrifft es ausschließlich ein Angebot, Parent, also WMIH oder Töchter zu verkaufen oder Teile davon oder Transaktionen mit diesen durchzuführen.

Aber ja, time will tell...

 

19.02.2018 Washington´s Birthday