OTCPK:ICPVF - Post by User
Comment by
Oldfart74on Aug 23, 2021 3:41pm
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Post# 33749689
RE:So what happens now?
RE:So what happens now?alkhor wrote: Brookfield extended their deadline for submitting shares in the hopes of getting as many as possible but they do not say what happens to the remaining shares, just idle threats that those holder may not get the cash/BIPC shares in the ratio they want.
In order to take over the remainder of the company do thay need to make a formal offer and need to get 2/3 of the outstanding shares (not including the 66% they own)?
I only have 1000 shares which are slightly underwater still, but with BIPC shares now over $82 the IPL shares should be trading at $20.50, so already at a bit of a premium. I'm going to keep hanging on since Brookfield seems to keep begging for your shares at $20, they must figure it will cost them more in the future.
My friend, Brookfield had an obligation to extend as per the provisions in the Takeover Bid Circular. The Sixth Notice of Extension dated August 20, contains the following paragraph:
"As of the close of business on August 20, 2021, a total of 253,933,715 Common Shares have been validly tendered and not withdrawn, representing approximately 59.2% of the outstanding Common Shares and approximately 65.6% of the Common Shares excluding the Common Shares owned by the Offeror Group."