Strangely Silent I took a peek at the Stockhouse AEM board to see what some of their shareholders thought of the deal.
Suprisingly only 6 posts on the topic so far. One on Sept 28 announcing it only and 5 discussions up until now Oct 6.
They seem strangely uninterested. Perhaps they know its too good to be true from an AEM standpoint.
AEM seems to be a reasonable company I did have a beef with them many years ago about a late reported incident where insiders had an opportunity to sell before the news was public. However that was as I said a long time ago.
They seem to be almost a twin of KL in many ways as in having only safe jurisdiction and mostly profitable mines and similar growth strategies and dividend policies.
The lack of a premium is annoying after holding KL as my largest mining investment for quite a while now but the prospects going forward should probably be the about same as without a deal.
I won't be terribly unhappy if the deal closes as is so I intend to hold for now but I still say the dealing isn't done. There are a lot of cards that could still be played yet.
KL has announced no more share buybacks pending closing so the KL cash treasury should be growing every day.
According to the mid Sept. Denver Forum Presentation the cash held at the end of June was $858M US.
I don't think the break fee is of much consequence to any serious potential competive bids. Voting is supposed to occur in November. So we have a month or so to see if any other parties are interested in acquiring one of the safest most profitable gold miners on the planet.
I will be voting no to this deal but by then hopefully this offer will have been upgraded to fend off another or made redundant by better offer.