OTCPK:NNDIF - Post by User
Post by
Scotch12on Jan 11, 2023 7:08am
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Post# 35215155
It is official - hedge funds say NO!
It is official - hedge funds say NO!The hedge funds put out a PR indicating they will not support the current deal.
"Under its current terms, we do not support the proposed acquisition," said Ben Franklin, founder and portfolio manager of Riverstyx. "NIF's independent trustees (all of whom have been hand-picked by Glencore) have agreed to support a proposal that drastically undervalues NIF. It also appears that there was no meaningful attempt to identify or pursue alternatives that could deliver higher value to unitholders. This highlights why the board needs to be reconstituted. As large, long-term unitholders we will continue to pursue our efforts to reconstitute the board with new independent trustees who will be focused on protecting the interests of public unitholders."
https://www.stockwatch.com/News/Item/Z-C!NIF-3351674/C/NIF