Incitec Pivot Ltd T.IPL

RE:Brookfield Reminder

[Oldfart74]

Antonyius wrote: https://ca.finance.yahoo.com/news/brookfield-infrastructure-reminds-inter-pipeline-105900447.html
Brookfield is saying if you don't tender your shares and pick one of the options you might end up dealing with the subsequent acquisition transaction. Anyone got experience dealing with that?

The normal subsequent acquisition transaction is by way of a plan of arrangement which in essence is a court approved process. A special shareholder meeting is called and a vote is held resulting in each remaining independent shareholder being forced to accept $20 cash for each share. If a shareholder does not accept the price, they can exercise their rights of dissent and try to convince the judge that a higher price is warranted. In most cases, the judge will go with the price accepted by the other shareholders. An important point is that a dissenting shareholder can only exercise these rights if his shares are registered in his name (not the broker or CDS).
This subsequent acquisition transaction may not occur immediately. In the meanwhile, the shares will likely not trade on the stock exchange.