Bendon This is from Bendon's recent press release:
"One of the stated assumptions of Teranga's offer is that there will be no such change in the operator of OJVG, and one of the stated contingencies of Teranga's offer is that there will be no material adverse change occurring in Oromin. Bendon intends to initiate legal action to protect its rights under the shareholders agreement. Teranga stated on June 3, 2013, that the making of the offer will be contingent on there not being any pending or threatened legal action prohibiting the offer."
This is from Oromin's latest press release:
"Oromin also reports that it is aware that a lawsuit referred to in the June 11, 2013, news release of Bendon International Ltd. has been commenced by Bendon in the Ontario Superior Court of Justice. The lawsuit names Teranga, Oromin and Oromin's wholly owned subsidiary, Sabodala Holding Ltd., as defendants. Oromin has not yet been served with the lawsuit and will consider its response in due course."
It would appear that Teranga's proposed offer will not now go ahead in its current form. In fact, it is probably dead in the water.