RE:SBB valuePianoMan wrote: Well, assuming BTO goes down today, the deal in the short term is not that great but we will finally know who else was sitting back and was interested in SBB. We can wish for any value in our heads but the moment of truth arrived, the gold companies will have a chance to speak up or shut up up wrt Sabina. Counter bids are possible. I wish for more cash in the offer...Premium is in line with typical TO. And the news leaked obviously, we were around 1.30. Now I know why IR did not return my email last week!
Yup, first bid or last bid is the question. Good for Bruce for putting the crappy bid to shareholders to decide rather than just tell B2 to go away. Let's see what the big shareholders will do. I see zero or very little downside to voting no. If it goes through anyway, b2 stock is as liquid as cash unless you own many millions of Sbb shares. If it fails, I doubt we drop back to pre offer levels unless gold collapses. Upside? They may have to sweeten it once hedgie arb types get involved or there could be another bid. Cash vs shares? I don't mind paying a few taxes on a cash bid vs a tax free rollover. Sure beats tax loss selling. I've had many takeovers in my 40 + years investing. I rarely keep shares in acquirer for long (a couple months) anyway.