RE:This is a merger... not a sale or takeover
Funny how this "basher" called this merger in early February!
Mark my words, the deal will go through! Anyone who holds both DML and FCU (which includes most institutional shareholders) will vote this merger through at the expense of Joe and Jane retail (holding only FCU paper). For FCU shareholders, the deal moves the goal-posts back about 5 years to when the sector turns in earnest. The Newco is indigestible in this bear market and, if you've been paying attention, Lundin is not one to sell in a cyclical downturn. Lundin recognized that it was a buyers market and stole FCU for a song! All he had to do was offer Dev a nice salary and some job security. Unfortunately, for Joe and Jane retail, they've earned the privilege of being diluted by DMLs Phoenix (which Beattie labeled unmineable) as well as future Chinese equity!
For holders of DML, this is music to their ears as the whole, over the longer term, is much better than owning FCU and DML paper in parts!!!
Let the Quakes spin commence!