Goldman Sachs Catalyst offering two different deals concerning the sale of Goldman Sachs put: Catalyst Goldman Sachs deal around the put, is different from what Canwest shareholders offered, is fraud.
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http://seekingalpha.com/article/189599-shaw-s-canwest-problem
[Payment to federal government, yet another issue not to take Canwest private. And not sell multi voting shares to Shaw. Note, if Shaw gets a deal with the Goldman Sachs put, Canwest shareholders should also get that deal too.]
Quote, "Shaw wants to set aside a $40 million payment that the federal government would demand to reflect a change of control at a media company. Shaw’s government relations strategy on this front is based on a pitch that they are the only bidder offering stability.
- There's a trap door that lets Shaw walk if it can't re-cut the ownership of CW Media, the parent company for the specialty channels, sources say. CW Media is co-owned by Goldman Sachs.
CanWest holds 35% of the equity, the New York investment bank holds 65%, and Goldman Sachs has the right to sell its stake to CanWest at a preset price in 2011.
Catalyst’s bid would honor that Goldman Sachs deal, struck in 2007, which means the U.S. investment bank is solidly in the private equity fund’s corner. Shaw has not reached out to Goldman Sachs since bidding for CanWest, citing agreements the cable company signed as part of the auction process. That refusal to engage the investment bank now looks like a serious tactical error."
