Thursday, July 12, 2007

BS&T saga continues

I've held off bloging about the battle between Neal and Massy and Ansa McAl of Trinidad over the Barbadian conglomerate Barbados Shipping and Trading (BS&T) because frankly, I can't figure out what's going on there.

Since I last blogged about this whole drama, a local consortium threw its hat into the ring. Headed by Tony Hoyos and Colin Brewer, the consortium is offering $7.50 per BS&T share, 50 cents more than what Ansa McAl is offering.

On top of that, the meeting of shareholders to decide BS&T's fate never came off because one shareholder wanted more time to look at the offers on the table. (I smell a stall tactic) Now everyone's upset because the local consortium managed to get its hands on 1000 shares, claiming that trading should have been suspended.

Hmmm. As my granny would say, there seems to be more in the mortar than the pestle....

Click here to read the latest on the BS&T saga.

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