Cameo Industries Corp - Ordinary Shares CRUUF

RE: RE: RE: RE: Crew Buyout

[otcmoonbound]

I'd say the chances of a successful buyout are 99.9%.  I read through the regulations on this last night and the way it reads, Severstal can squeeze out the last 10% at the price of the tender offer.  There has not been a tender offer yet since Severstal acquired the 90% holding by other means.  This suggest to me that they will have to make a formal offer for the remaining shares, send out a circular with fairness opinion etc.  After the tender expires, they can squeeze out any remaining holdouts.  I think the price has to be at or above the $4.79 received by Endeavour; Severstal twice announced purchases well above that.  One was almost $7!
There is no doubt Severstal will do this.  Why acquire 93% and remain public, which involves invites unwanted scutiny.
This may take several months but holders should be rewarded with a 10-40% gain.