GREY:WEWWF - Post by User
Post by
ddunon Sep 11, 2015 9:24pm
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Post# 24098115
Votes against the transaction
Votes against the transactionI was told by an investment banker/broker/Fund manager that 22.5% of the shareholders representing 3 Institutions and one company have voted or intend to vote against the transaction. As the plan of arrangement needs 2/3rd majority (66.67%) this a major blow to the deal. Very few people actually vote, so a large negative vote tends to cause significant problems. If others vote against the merger then it can be defeated. The board was not supportive of deals at $2.75 and higher and the buyers might come back if this merger is defeated. if the merger is defeated we will likely get a higher price.