RE:RE:Sad truth when comparing the Victoria & Hecla dealsSorry, but that sort of deal sounds moronic. Let's say you have a suitor who agrees to purchase your shares for X amount. A year later, they cherry pick the time frame in which the buyout occurs so as to minimize the exchange ratio. How is that a fair or wise approach if you are the company being acquired?
Every other deal I've seen that is a share swap publishes the exchange rate. Why on earth would a company agree to a buyout amount at some distant point in the future based on a price today? It would be foolish! Granted, in this case the exchange rate is implied. But then again, isn't it implied that if you purchaes a new carethe tires come included with the purchase price?! I mean, why would we shareholders expect anything less??
This whole sloppy approach really irks me. I get why Victoria had to more or less just acknowledge a price since the offer was never agreed upon. But, with Hecla, the two parties seemed to be playing ball and now we find out we are getting the shaft when the time comes for the official exchange rate of shares?
Again, this is patently unfair what is being done to us shareholders. We are giving away Rackla and on top of that we have to eat an additional 25% deterioration in the exchange rate?! This is beyond....