Bluegreen Extention

[lewmel Senior Member Find all posts View Profile Close lewmel]

An article today says that the negotiations between DRI and bluegreen has been extended to Nov 15.

Bluegreen Corporation - Investor Relations - Bluegreen Corporation - News Release

[PeelBoy Senior Member Find all posts View Profile Close PeelBoy]

The release says "The parties have agreed to continue to work to reach a definitive agreement for the acquisition of Bluegreen at the earliest possible time."

What does it mean by definitive agreement? Acquisition for sure? I am looking forward to more options in the east coast.

[T. R. Oglodyte Moderator Find all posts View Profile Close T. R. Oglodyte]

The release says "The parties have agreed to continue to work to reach a definitive agreement for the acquisition of Bluegreen at the earliest possible time."

What does it mean by definitive agreement? Acquisition for sure? I am looking forward to more options in the east coast.

It means that the deal has contingencies that need to be worked out for it to become definite. In this case it's financing.

It's the same when you buy a house, but your offer is contingent in financing, or passing a pest control inspection (or anything else that will allow you to cancel the deal). Until you secure financing or accept the pest report, or whatever, the deal is not definite.

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

The release says "The parties have agreed to continue to work to reach a definitive agreement for the acquisition of Bluegreen at the earliest possible time."

What does it mean by definitive agreement? Acquisition for sure? I am looking forward to more options in the east coast.

Diamond is working to get someone finance the deal. If they can get it, they can and will announce it before the Nov 15. ANd Bluegreen will happily take the deal.

If not, everything is off.

Jya-Ning

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

It means that the deal has contingencies that need to be worked out for it to become definite. In this case it's financing.

It's the same when you buy a house, but your offer is contingent in financing, or passing a pest control inspection (or anything else that will allow you to cancel the deal). Until you secure financing or accept the pest report, or whatever, the deal is not definite.

Actually, it's more than that. It means that today, there is no agreement. There is only an intent by both parties to make a transaction for $15/share.

There are deal points called "terms" that have not yet been agreed. When those terms are agreed and put in writing, then there is a definitive agreement. In the definitive agreement, there could be contingencies as well.

[T. R. Oglodyte Moderator Find all posts View Profile Close T. R. Oglodyte]

Actually, it's more than that. It means that today, there is no agreement. There is only an intent by both parties to make a transaction for $15/share.

There are deal points called "terms" that have not yet been agreed. When those terms are agreed and put in writing, then there is a definitive agreement. In the definitive agreement, there could be contingencies as well.

Boca - I think we're both saying that it ain't over until the fat lady sings.

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

Boca - I think we're both saying that it ain't over until the fat lady sings.

I agree. I was just trying to explain that "definitive agreement" has a formal meaning.

That fat lady was singing proudly in the USC v. tOSU game last Saturday. My heart is still singing.

[Spence Super Moderator Find all posts View Profile Close Spence]

5 Deathbed Stocks

5 Deathbed Stocks

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

From what I've seen of the books, Bluegreen really doesn't look that bad and it was about the strongest of the deathbed 5. If it is obtained by the twice reincarnated DRI, I would be promoting selling whoever financed the deal.

[longtimer Senior Member Find all posts View Profile Close longtimer]

Hi all, I saw the news about the DRI negotiations with BlueGreen a few months ago. I was excited for the possibility of having a few more East Coast resorts too. However, not too long ago, the PA Attorney General filed suit with BlueGreen for deceptive, high-pressure sales tactics. I hope were not buying into some problems here!

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

Hi all, I saw the news about the DRI negotiations with BlueGreen a few months ago. I was excited for the possibility of having a few more East Coast resorts too. However, not too long ago, the PA Attorney General filed suit with BlueGreen for deceptive, high-pressure sales tactics. I hope were not buying into some problems here!

It wasn't for high pressure sales tactics. It was for illegal marketing activities. In other words, it was how they were lured into the sale presentation, not what they did when they got there that is being challenged.

By the way, this is how the entire timeshare industry operates except for Disney and a few other resorts.

They all use high pressure sales tactics. It defines the industry.

[vintner Super Moderator Find all posts View Profile Close vintner]

I thought I had read where that case was done. Maybe it was another case.

And as far as Bluegreen, I really like them. I don't know enough about DRI to be able to say this will be a great improvement.

With the addition of the west coast Select Connections, I am excited to use them soon.

We still have RCI to use for exchanges, so I don't feel restricted to only Bluegreen.

I am a happy camper (...so to speak) wth Bluegreen.

[longtimer Senior Member Find all posts View Profile Close longtimer]

Hi Vinter, Thanks for the positive thoughts on Bluegreen. I looked at the listed resports and was quite pleased with their number and locations. DRI acquisitions would greatly expand Diamond's presence here on the East Coast. That's great because so far, there are limited options for DRI owners in this part of the country. TS sales have a very ba reputation here in PA. Many years ago, there were a lot of complaints from people about TS sales, especially in the Poconos areas. I think too many people cave into the sales pressures without thinking everything through. In addition, some people don't take the time to learn how to make the use of what they have. They sit and stew about a purchase they regreat making. And, of course, people are more likely to spread bad news than good news. That's what so great about this forum. I'm happy to hear that so many others love TS as much as we do.