RE:RE:RE:RE:Market paying a premium for ICG ? TG - I agree, those that bought 175M - 200M new shares since the time of the bid announcement will absolutely vote yes to the take-out due to the fact that a greater lost in their stock price would occur with a no vote.
Also, adding to my last post: The 25% cash payout will not be C$.30313 under option (iii) unless Eldorado's stock price again comes in at C$5.00 when and if the deal is finalized.
The maximum amount of cash payable by Eldorado under the Arrangement is approximately C$129 million or 25% of the total consideration at a C$5.00 share price. At a share price of C$4.00 the maximum amount of cash payable would be reduced approximately to C$103 million or again 25% of total consideration. That would then call for a reduction in the payable cash option through pro-ration from ,30313 to as low asC$.21 depending on the number of shares opting for option (iii).
As Eldorado's stock continues to hoover around C$4.00, the rosy picture painted by Integra's managment team continues to turn ugly.