RE:RE:RE:Hypothetical Take-Over Problem for Mac TT:
Either way they can't force you out, because you don't have to tender in a hostile, and in a friendly you have "apparaisel rights".......................BUT.............the shares will certainly fall in value as liquidity dries up, and you are a minority shareholder in a tightly controlled company.
In fact, the shares probably get delisted and there is NO MORE public reporting by the issuer, in the case of MPVD, in either U.S. or Canada.
You would still get the proxy for the annual meeting but the directors are not going to change unless the majority shareholder decides to do so. They would have just about complete controlof the company and your only recourse at this point becomes the courts.
That is why it can be good if you have a large enough position or a "group" of minority shareholders to all BAND TOGETHER and go in for appraisla rights if you don't like the friendly deal and then you can all at least share court costs and attorney fees to agrue with the judge............there is a process.
Generally, deals in Canada require 2/3rds of ALL shares, and a majority of the minority, in order to close without a hitch.
I have DNA as an arb play. The vote is soon. You can see it's a friendly. I think it closes after the vote without any problems. A lot of shares end up with arbs over a period of time so deals usually close.
IMO NSU has to go higher, as the stock has been trading above the Lundin bid for the duration, and by law in Canada Lundin has to leave its bid open for a fairly long length of time. Giving plenty of time for the company to look for alternatives, and the arbs not to tender their shares to Lundin................Really, who would tender with the stock trading consistently above the tender price? Better to just sell in the open market. NSU is a hostile bid.
Look at the public filed docs on both, gives you an idea of the alternatives.