GREY:BEEHF - Post by User
Comment by
2stereoon Apr 26, 2013 8:26pm
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Post# 21308062
RE: Will there be another offer?
RE: Will there be another offer? There might be. Anatolia sunk a lot into this play & are only being offered a fraction. CUB has the right to match any competing offer:
The arrangement agreement provides for non-solicitation covenants, subject to fiduciary obligations of the board of directors of Anatolia, and the right of Cub to match any superior proposal (as defined in the arrangement agreement). The arrangement agreement, among other things, provides for non-completion fees of $200,000 payable by Cub and $400,000 payable by Anatolia in the event the transaction is not completed or is terminated by either party in certain circumstances. The arrangement agreement provides that completion of the transaction is subject to certain conditions, including the receipt of all required regulatory approvals, including the approval of the TSX Venture Echange, the approval of the shareholders of Anatolia, and Turkish and Ukrainian regulatory approvals. The transaction is expected to close on or before June 30, 2013.