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Western Wind Energy Corp V.WND



TSXV:WND - Post by User

Comment by contrainvestoron Jan 28, 2013 4:55pm
135 Views
Post# 20902019

RE: RE: Offer

RE: RE: Offer

I apologize if this point has been made before as I only come to this board occassionally, but it should also be pointed out that based on their actions to date, Brookfield is probably very certain that the securities commissions would disagree with their position that they are not required to prepare a formal valuation.  I say that because it is accepted law in Canada that when a shareholders rights plan is put in place, the commissions have ruled that at some point the pill must go.  We are more than 60 days past the date when Brookfield first announced its bid, and even longer since WND announced they would be running an auction for the company.  And yet, Brookfield has not made any mention of trying to have the shareholder rights plan cease traded, but rather is trying to bulldoze the bid through as a Permitted Bid under the shareholder rights plan.  Try and find a precedent for that in Canada - it does not exist.  The reason Brookfield has not gone before the commissions to try and get the shareholder rights plan cease traded is because they know WND will bring up the formal valuation issue, and WND's argument is probably factually correct. 

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