GREY:HRIVF - Post by User
Comment by
production05on Oct 27, 2009 2:46pm
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Post# 16428350
RE: RE: IMO, the end game (funds need to stand up)
RE: RE: IMO, the end game (funds need to stand up)
Yes, that's correct NC, but (IMO) Severstal will take it to a phase 2 this time. In my view, they didn't go to phase 2 last time because they got slaughtered in phase 1 and had no chance in the next phase. However, they potentially have a partner this time.
Yes, we will have to get 150M + 1 share + xxx shares. The xxx represents the shares voting for Severstal (over and above Troika). Let's say Severstal gets 150M Troika + 20M other minority shares. We will need 170M + 1 share to win.
You're right, it's still possible given our large holdings by funds. However, the funds need to keep holding their shares. There cannot be any weak links.