Quote from rufus_4000:
Sorry for the lateness, I have been busy with other stuff.
The other reason that Abadi's bid is problematic is that he indicated that he wants to buy all operating business of Refco for $1B, no debts, and with all the cash outstanding. I remember reading somewhere that he is talking about all cash, which seems to me including the $430M returned by Bennett, that would put the bid at a lower level than that of Flowers.
I personally don't have a problem with a foreigh government owning a US private financial firm at all. But the buyout firms that I have dealt with have all had reservations about dealing with them. The Dubai investment arm is substantially different from CNOOC, CNOOC is a private organization with a majority ownership by the Chinese government (60%?), the Dubai investment arm is similiar in nature to Temasek Holdings, the 100% Singapore government owned holding firm. The main problem is in the event of a dispute, where does the jurisdiction lie, a number of judges have ruleD that in the event of a civil dispute (not criminal, but recent ruling by John Roberts, yes that John Roberts, have indicated similar trends) that the jurisdiction and its application on foreign government entities are problematic.
Regardless, it seems that Interactive Brokers are now in the race.
=============
Good points, wasnt aware of the ''John Roberts trends '';
which present another ''bad''problem to Abadi bid.
Another thing about Abadi bid , similiar to the Chinese gov;
thats fine if the Chinese gov gets a stake in Kentucky Fried Chicken franchise
Another problem, do GOOG or YHOO search ;
human right abuse ,Dubai.
Choices have consequences.
But major Dubai interest in REFco or an
China takeover on
USA OIl-co is much more serious;
more so than a Chinese stake in a KFC franchise
[Actually not aware of franchise details, merely a concrete illustration]
Fine if an Arab, & he already has ,bought a huge stake[less than 50%] in Citigroup stock .
And also a YHOO link speculated the winning REFco bid probably about a billion$
;
not negative on the French, but prayed against Abadi bid,
and French underground helped us in WWII, to thier credit.
Merci/thanks
