RE: mngt comes out and says the deal LISTEN CAREFULLY. jill. It is not hostile take over. If it was hostile take over they would collect shares from the market and gave offer for the rest. Samarium Group wants to get minimum 51% of shares. the company has 48 million shares. it means they want to get at least 25 million shares. Lets say if they would collect 25 million shares in the market share price could hit 50 cents because there are not many shares in the market.. If they give offer for the rest they must give offer minimum 60% above of closing price the day they would offer. It would br costly for them.
In this case last friday closing price 2 cents and they offer 12 cents per share to get 25 million shares. It is much better to make a friendly offer acoording to TSX rules. Looks like 600% up from the last closing price.
I HOPE YOU GET WHAT I MEAN