I agree davmarc, the lack of commentary even referencing alternate potential suitors (without necessarily naming parties) is disappointing.
This could be because a) they have had the parties (if they existed) fall away, b) there are parties in discussion but the Board wants to keep a near term announcement in the top draw so to speak, for release at a strategic time or c) they are still negotiating and there is nothing concrete yet.
I think the delay's a good thing for S/H's overhaul - but only if the Board can translate some of the solid value they explore through their presentation numbers into, a) a vastly improved bid from the Chinese by massaging them a bit, or b) they get a real alternate offer on the table in the week to ten days prior to the new extension date.
WCL Price at posting:
39.5¢ Sentiment: Hold Disclosure: Held
