RE: RE: I'm out too...I think there will be a superior offer by the other company today, and Federal will take their time coming back with theirs.
Article 7 in the shareholders' circular i.e. The Arrangement, provides Federal 5 business days to respond to any superior offer. At first blush it is management (Sirit) who gets to determine whether the offer is superior. After the vote, it is the shareholders who get to challenge thru the courts whether Management was misguided in their decision-making.