Next Deadline, July 14.In accordance with the Amended Vector Agreement, the Company has notified Vector that the five business day matching period provided under the Amended Vector Agreement has commenced. The matching period ends at 5:00 p.m. (Toronto time) on July 14, 2017.
The Board has not changed its recommendation regarding the Amended Vector Agreement and continues to recommend the offer under the Amended Vector Arrangement.
RE the last statement. Does it mean that the Board is expecting Vector to match? How can the Board recommend something ($4.15) that is 6% inferior in price? The only thing that seems logical to me is that the Board is expecting a matching bid. At least they could have said that in the absence of a matching bid, the Board considers the Francisco Partners bid to be superior. I do!
It appears that there are only two bidders at this party. We now have another week to wait and speculate.