RE: RE: RE: RE: Do your diligence "AGI is on record this morning saying that they will not be raising there offer"
they always say that . . . He said he would walk if ARZ put in place a poison pill, but he has extended his offer twice since.
All he had to do was raise his offer 5% and he could have probably come to an agreement. Now ARZ-HL have put him in a position where he needs to raise more than that.
In my view, they should spin out Marban, Joanna, etc in a new jr with existing managment. McCluskey gave impression he had no interest in these projects, so he shouldn't be opposed to it. I would vote for that transaction. It is too bad these grown-ups can't talk to each other.
Anyway . . . Hecla is already contractually entitled to the break fee and they aren't going to get shareholder approval. Even if BC rules against, I assume they will simply revise the contract. So, AGI will continue to get shares and probably complete a takeover of ARZ less the $27 mm paid to HL. I assume HL goes away, because it seems they are not in a position to raise their offer and AGI knows this.
Anybody have other thoughts?