I believe the merger will go a headAs we are all want best outcome for our company as a shareholders I want to highlite few things.
1st, The offer which was made by Silver stardandand GFI for $ 1,44 B today only worth $ 9.17 per Klg shares. Because sso.to went down 22% in two days since the last revised offer. Imagine what will happen to the share of sso.to if klg accept the ofer. It wiil go down another 15 to 20 %. Becuse they have to issue a billion dollar or more worth of there share.That will bring down the offer to $ 7.80 for each KLG shares.
2nd This offer and any future offers to go a head by these two companies to take over klg it has to be frindely and it can not be hostile. why read the next line from OCT 28 circular. Early in the morning on September 29, 2016, Kirkland and Newmarket entered into the Arrangement Agreement and the transaction was publicly announced prior to the opening of financial markets on September 29, 2016.
As part of Kirkland review of alternative strategic transactions described above, earlier this year Kirkland entered into confidentiality agreements with other parties and exchanged confidential information with such other parties.
Since signing the Arrangement Agreement, Kirkland has received a joint, unsolicited, written Acquisition Proposal and a revised Acquisition Proposal (collectively, the which provide for the acquisition of all of the outstanding Kirkland Shares pursuant to a plan of arrangement for consideration consisting of cash and shares of one of the parties making the Proposals or a combination thereof. Each of the Proposals was made by the same parties and are non-binding and conditional on due diligence access and certain other conditions.
One of the parties who made the Proposals had previously entered into a confidentiality agreement with Kirkland that contains restrictions which preclude that party from making an offer to acquire the Kirkland Shares other than pursuant to a negotiated transaction with Kirkland. This restriction is currently in effect.
Also yesterday news from KLG if you read last line stated Kirkland shareholders should also be aware that, as disclosed in the circular, Gold Fields and Silver Standard are precluded from proceeding with any transaction that is not supported by the Kirkland board.
3rd Klg major shareholders support the aqusition between klg and nmi. Why, the answer is those major Klg shareholders are also major shareholders of Nmi.
I believe the merger will go a head because of the above mentioned and it has the support of Major shareholders and INDEPENDENT ADVISORY FIRM GLASS LEWIS and recommended that shareholders of each of Kirkland Lake Gold Inc. and Newmarket Gold Inc. vote in favour of the proposed plan of arrangement. Institution usually follow the recommendations.
This just my opinion . I may be wrong on few of my assumption but please do your own due diligence.