Am I doing harm to Luxor's and NGN's names orjust telling the truth, and that the supposed merger of equals between them, to supposedly do better for both sides,
IS A FARCE !!!!!!!
From Luxor's Open Letter to CRK's minority shareholders, on the spirit of such a deal as this, which is deceptive on top of it (ie a merger of non equals), but having to do with taking CRK private (which I think this injurious merger fits the spirit off as well as of non equals) is applicable and shouldn't go through without a majority of minority shareholders' approval, which they won't get.
Why?
- because the merger is not of equals.
- the terms of it reduces CRK's shares in NGN and will so with other "mergers"
- both CRK and NGN need a strong gold market to come back to do good (which it is by the end of 2015 onward because of all the financial problems in the world). Not a merger between one another, as lopsided type as well.
From Open Letter by Luxor to Minority CRK shareholders:
Ie from
https://www.newswire.ca/en/story/922775/luxor-capital-group-issues-open-letter-to-shareholders-of-crocodile-gold
“How does Luxor view the minority shareholders?
We view minority shareholders as equal partners with goals identical to our own - maximizing per-share, shareholder wealth. As previously mentioned, Luxor's ultimate exit from Crocodile Gold is most likely a refloating of our shares in the marketplace. To effect this strategy, it will be critical to ensure the stock price accurately reflects the fair value of the company. The only way to do this is to respect all shareholders, maintain openness with the shareholder base and, whenever possible, align Luxor's incentives with minority shareholder incentives.”
....
....
“Will Luxor seek to take the remaining minority stake private at some point?
No. As mentioned above, retaining a listing requirement is critical to us. Even if we were so inclined to take the company private (and we aren't),
the process of doing so would require, at minimum, approval by a "majority of the minority shareholders" (i.e., a majority of non-Luxor shareholders would have to agree to this).”