GREY:OLEPF - Post by User
Post by
hoosier1on Apr 29, 2012 5:41pm
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Post# 19850157
Hostile Takeover
Hostile Takeover I could be wrong but... a hostile takeover does not seem possible here...
OJVG is an entity split among three other entities - OLE (43.5), Bendon(43.5), Badr (13)...with Oromin being the only one that is a corporation having actual traded shares.. Bendon & Badr are private... So to do a hostile take over means going after OLE which in turn will not get you control of OJVG... which would be be way too risky even without a poison pill option
Also, OLE is the controlling agent for OJVG having all operational control...the other two only provided financing. Thus OLE controls any buyout/sell...you can't end run OLE. OLE's poison pill allows for - upon the hostile takeover of 20% or more - every shareholder to acquire 1 share for every share owned at 50% of the takeover price...thus resulting in an extreme dilution for the hostile entity...typical as poison pills go...making it even more risky than as stated above.
This has to be an amicable sell/acquisition...
imho
h1