OTCPK:GBGPF - Post by User
Comment by
thorgb1on Nov 16, 2017 9:05pm
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Post# 26981088
RE:RE:merger take out
RE:RE:merger take outThe problem is the proposal is just not clear to everyone......what is the offer? Is it $24 per share in equivalent ACB shares on a pro rata basis to the closing price today? Yesterday? 20 day average? Is it 3.75 ACB shares per CMED share regardless of closing price? It is just not clear, so a good first step to get shareholders on board would be to specify exactly what the offer is.
On another note, the CMO of Aurora mentioned on BNN that they were actually approached by "the 38%" in regards to acquiring CMED, and if true, I think the board members behind this have opened themselves up to a serious class action lawsuit. I can't see how you are acting in the best fiduciary interests of the shareholders you are bound to represent if this deal goes through and how it went down. Not saying it's a bad deal or that ACB is a bad company, but the way this has gone down if CMED board members made the approach is questionable.
i expect we will see some type of response to the proposal tomorrow, so let's see what happens.