GREY:ROAOF - Post by User
Comment by
marexxxon Mar 25, 2009 12:41pm
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Post# 15869568
RE: what does this mean?
RE: what does this mean?Premier Oil to acquire all the shares of ONSL for $505-million subject to a company arrangement with the creditors
"What does this mean?" ......""failing which Premier will acquire the business and assets of ONSL for $415 million"".
I guess it means if creditors reject this deal they will get $415 mil and not $505 mil and then they may go after Oilexco for the remaining money (Oilexco must have something left) but if the deal will get approve then Oilexco should be free of any obligation but what do they have is another story, nobody know at this point.
Stay tuned!