Comments on: Odds Update for EMAG Arbitrage

By: Terminus Capital Management

Terminus Capital Management — Wed, 11 Feb 2009 23:42:24 +0000

Glad I sold mine last week!

By: bernardo madoff

bernardo madoff — Tue, 10 Feb 2009 04:00:49 +0000

SIB did not provide ELAN with financing and lost control of company:

http://www.rttnews.com/ArticleView.aspx?Id=847645&SMap=1

bernardo madoff’s last blog post..El paraíso (bancario) de Antigua & Barbuda

By: Jae Jun

Jae Jun — Fri, 06 Feb 2009 07:59:45 +0000

I agree. I did know that HSS were determined to finalize the merger but the presentation sealed it with their own words. I’m confident that SIBL will definately be able to providing the funding. Waiting for the good news on closing day of Feb 10. Remaining 10% spread is still tempting with a few business days left.

By: CarlD

CarlD — Fri, 06 Feb 2009 00:29:23 +0000

It was clear that HSS was anxioux to complete the buyout of EMAG. HSS ihas negative value and is not traded publicly.

The question was SIBL, the banker. Stanford did not come forth with the money as promised when promised.

Then SIBL posted additional “good faith” funds, set a new date, and waived ALL POSSIBLE OBJECTIONS to the deal.

Although this is a small cap company with a smaller cap buyer, you can count the days until it will close.