And he is still interested in Metalico.
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And he is still interested in Metalico.
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No, he owns Metallico stock wise. He's hoping they'll go the way Roth Steel went and it looks like that's what happening(stock wise mind you).Originally Posted by mthomasdev
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Logan,
He is the largest shareholder with about 11 percent. A bankruptcy would cause his shares to be worthless, costing him about 6 million. Does it make any sense that that is what he wants? He had nothing invested in Roth, so a BK was OK. Metalico's bottom line is going to be under more pressure when AW gets the PA shredder up and running. I'd expect a lower share price in the coming quarters and AW to buy the company at or lower than his initial offer.
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