Metanor Resources MEAOD

RE:RE:Wow ... Really !

[u2bob]

Hi T ...Thanks for the post ...I have seen this played over and over with the stocks I invest in ...the only thing that has changed of late that can help shareholders in takeovers as of Mar 31st. is...

The Canadian Securities Administrators (CSA) have released today draft rules on Canada’s new "just say slow" takeover bid regime. Under this new regime, the minimum period during which a takeover bid must remain open is extended to 120 days (subject to a target board’s ability to shorten the timeframe to as little as 35 days in certain cases). The rules preserve the right of shareholders to respond to a bid, but on a collective basis, by mandating a new 50% minimum tender condition. Once the minimum tender condition has been met, undecided shareholders will benefit from an additional 10-day extension to accept the outstanding bid.

The new rules will reshape the current takeover bid regime by redefining bid dynamics between target boards and hostile bidders. The new 120-day period will provide boards with more time to "just say slow" and evaluate a hostile bid, seek value-enhancing alternatives or convince shareholders to stay the course and reject the bid. As a result, boards will wield more negotiating leverage which will likely encourage a bidder's engagement with the target.