Revolt building against bid for Silverstone
It appears a revolt is building against SLW's bid for SST. A quick check of the Silverstone board indicates that retail shareholders of Silverstone - assuming the board is representative of shareholders in general - are nearly unanimously against the deal on the basis that SLW is not offering enough to buy their company. Riskmetrics Group has put out a news release recommending Silverstone shareholders vote "yes" on the deal, but this is viewed as a desperation move by some. Besides, it smells of conflict of interest as Riskmetrics was undoubtedly paid by Silverstone to do so and is not operating at arms length. Wheaton is risking that the offer will be voted down if more more 33.33% of Silverstone shareholders vote against the offer. That will just be taken as confirmation to their shareholders that Wheaton was trying to steal their company, as Gold Stock Analyst writer John Doody has claimed.