GB Group Ord Shs GBGPF

RE:RE:RE:RE:Conversion rate

[BobTBuilder]

Rockpaperstock wrote: Yep, my thoughts exactly.  It shouldn't have been dragged out this long, but it's the unfortunate reality of hostile takeovers in Canada.  Originally wasn't that bad a deal, though I would've sold my ACB shares soon as I got them.

Honestly to have to wait till March, it's such a sh*t deal, I would rather just have the whole thing called off and take my bets with HIP.  Even though CMED financials don't look that great now, it may very well turn around with the new product line.

And possibly better management :o

The CMED board can agree to reduce the bid period from 105 days to 35 days. Although I highly doubt they will do that.

I'm really anxious to hear what the CSA thinks about all this.

"The Role and Duties of Target Boards

By extending the minimum bid period beyond the current 35 day period, the New Bid Regime will provide target boards significantly more time to evaluate a take-over bid, communicate with shareholders, seek to generate an enhancement to the take-over bid and attract alternative offers prior to securities being taken up under the bid. The New Bid Regime will not, however, change the responsibilities of a target board to exercise the duty of care and act in good faith and in the best interests of the corporation. While a target board will be assured of a longer period of time to take required action in the best interests of the corporation, the current position of the CSA will continue to limit defensive tactics that would defeat a bid and deny shareholders the opportunity to tender."

https://www.mccarthy.ca/article_detail.aspx?id=7218