GREY:PTQMF - Post by User
Post by
wwadehammeron Feb 27, 2013 8:12pm
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Post# 21052068
FQ Still Not There
FQ Still Not There FQ's goal is to obtain 67 percent of the stock of Inmet in order for the HT to succeed. The fact that FQ is extending the offer means they must be reasonably close to acheiving 67 percent. It would be very interesting if FQ has received support from over 50 percent of the outstanding shares. I don't know the if the BCSC rules prevent FQ from changing the 67 percent to 50 percent but they could vote out Inmet's BOD with with over 50 percent. That would be a very hostile move and would make it difficult for FQ to manage Inmet. FQ must have an estimate of what Inmet is worth overall and if the current offer is well below what FQ thinks Inmet is ultimately worth, then they might complete the HT with over 50 percent but less than 67 percent of the stock tendered. The fact that Inmet gave FQ access leads me to believe that FQ reached the 50 percent threshold.