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BRS stock crashing

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BRS stock crashing


Old 8th Jan 2019, 04:38
  #21 (permalink)  
Join Date: Sep 2006
Location: Inside the Industry
Posts: 585
Looks like its going back up. $3.36. Now PHI is down. I wasn't feeling lucky gambling on BRS stock. But its down enough to delay the Columbia deal. If I was the family, I would want cash, not BRS stock.
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Old 16th Jan 2019, 14:34
  #22 (permalink)  
Join Date: Mar 2011
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Columbia Helicopters confirm they are going ahead with sale despite Bristows stock price plunging.

https://www.oregonlive.com/business/...g-stock.htmlBy Mike Rogoway The Oregonian/OregonLive

Oregon-based Columbia Helicopters says it still wants to sell itself to a Texas company, even though the buyer’s share price has plunged by more than two-thirds since announcing the $559 million deal.

Bristow Group’s investors began unloading shares almost as soon as the company announced its plan to buy privately held Columbia last November, driving Bristow’s stock down from $10.04 to just $3.16.

Bristow’s deteriorating position on Wall Street has produced calls for the Texas company to scuttle the deal. But Columbia Helicopters insists it intends to sell.

“There’s a lot of talk, obviously, but the facts are the facts. There’s an agreement,” said Santiago Crespo, Columbia’s vice president of business development and strategy.

Most of the purchase price, $492 million, is to be paid in cash, much of which Bristow intends to borrow. So the precipitous decline in Bristow stock has only diminished what Columbia’s owners would receive by $43 million, about 8 percent.

It has devastated Bristow, though. The deal currently values Columbia at $516 million, 4.5 times Bristow’s diminished market capitalization.
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Old 16th Jan 2019, 14:45
  #23 (permalink)  
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So in order to pay off Debt.....you really think Bristow is going to continue operations Columbia in the hopes that is its own Salvation....or will they try to flog off the bits and pieces to other Buyers and hope to generate some cash flow to offset other losses in the traditional Bristow operations?
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Old 17th Jan 2019, 10:49
  #24 (permalink)  
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I'm bewildered that any financial institution would be game to lend $492 million to any company in such circumstances.
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