RE:RE:$80 million for 51%?What does canpotex have to do with anything? Is K+S using canpotex? The answer is no. These guys should put in a proper offer for 66.67% of the company like a proper buy out like ICL did with AAA. $80 million for 51% just shows your trying to steal the company and not pay for a super majority.
Not like it matters. Wpx has a shareholders rights plan. It has to be voted on and ultimately the shareholders will decide. The chairman and directors should be embarrassed for presenting this to shareholders and hiding what this actually is. It won't be canpotex stopping the deal. It will the govt of Canada if it meets the needs and benefits of Canada. One of the clauses for a foreign buyout is the project has to have an R&D program which they have now. So I think China can buy out wpx if shareholders don't push back to management. The only thing that management is hoping for, is that somebody else will place a bid and cause a bidding war so they can wash there hands from the project. I also won't be surprised if this is the same Chinese capital company that was bidding on AAA.
I just hope shareholders realize what this actually is. It's a buy out offer for 51% and doesn't finance the project. A way better option would be to issue more shares and raise $80 million through dilution and public offering to build the pilot plant. Like what this offering should be. Good job guys, you just showed all shareholders that you want out of the company 51%
AAA KRN WPX. It's actually sickening to see how much these juniors have done and achieved over the years for management to be the only one who benifits.
Jerichoj