On 3 February 2014 during the FCC proceedings Post announced it had agreed to acquire PowerBar + Musashi from Nestlé with the acquisition expected to close in Post’s Q3 2014 fiscal quarter ending 30 June 2014.
ROBERT VITALE COVER UP OF POST’S VIOLATIONS OF U.S. ANTITRUST LAWS
When Post agreed to acquire PowerBar + Musashi from Nestlé, Post became party to litigation against A-Sashi. And with the proceedings becoming protracted Post delayed the closing of the PowerBar + Musashi deal, to wait for the FCC proceedings to finalise so that the litigation revealing Post’s violations of U.S. antitrust laws would be concealed from SEC filings.
On 1 July 2014 with the FCC proceedings not finalised Post announced a 6-month delay in closing the acquisition and entered into an amended stock and asset purchase agreement with the new closing date expected to occur in Post’s Q1 2015 fiscal quarter ending 31 December 2014.
St. Louis Post-Dispatch business editor Lisa Brown reported the delay on 1 October 2014 by stating:
When Post announced its plans to purchase the PowerBar + Musashi brands, the company said it planned to close on the deal in Post’s third fiscal quarter. However, Post’s fourth fiscal quarter ended Sept. 30. Calls to Post and Nestlé about the delay were not immediately returned.
The plan of waiting for litigation to finalise to conceal Post’s violations of U.S. antitrust laws failed when on 16 September 2014 in accordance with the Federal Court of Australia Act 1976 Christian filed an appeal commencing the Federal Court proceedings prior to the FCC proceedings finalising in Australia.
Post had an unconditional guaranteed buyer’s obligation under the 1 July 2014 amended stock and asset purchase agreement which stated:
The stock and asset purchase agreement for PowerBar + Musashi may be terminated by mutual consent of the parties and under certain other circumstances, including if the closing of the acquisition has not occurred prior to 3 November 2014.
The Post unconditional guaranteed buyer’s obligation became affected by the Federal Court proceedings resulting in the fraudulent finalisation of both the FCC proceedings & Federal Court proceedings (pre 3 November 2014) for Post to close the PowerBar + Musashi acquisition and to conceal reporting of the legal proceedings from SEC filings, and with Vitale able to cover up Post’s violations of U.S. antitrust laws associated with the acquisition of PowerBar + Musashi.
Judge Nicholas Manousaridis (Manousaridis J) presiding judge of the FCC proceedings conspired with Justice David Yates (Yates J) presiding judge of the Federal Court proceedings and the Sydney Registry to fraudulently have the FCC proceedings displayed as finalised on the Commonwealth Courts Portal (CCP) from 17 October–28 October 2014 in sync with Yates J stopping the Christian appeal from commencing by guaranteeing a 42-day stoppage in the granting of the application for leave to appeal from 16 September–28 October 2014.
Post later dumped the PowerBar Australia assets and Musashi trademark at a loss of $40 million in the on-sell to Vitaco Holdings Limited (Vitaco) on 1 July 2015 detailed in section 15.
Robert Vitale’s criminal conduct has not paid off for shareholders
In November 2021 Post Holdings stock is a dog with fleas. The company’s bottom line has declined year over year and again missed the Zacks Consensus Estimate by over 40%. In the past 2-years Post Holdings stock has consistently underperformed and at 1 December 2021 is down over 10% compared to 1 December 2019 and down over 20% in the past 6-months. First timer CEO Robert Vitale has driven debt to a new record level exceeding US$9 billion. With a market cap of US$6 billion the company is insolvent.
A-SASHI STORY 