GB Group Ord Shs GBGPF

RE:RE:RE:RE:RE:RE:RE:RE:"Superior Proposals" are coming!?

[StrongLong]

longonMJ wrote: Am I missing something here or is the Aurora takeover of CMED already pretty much of a done deal by now?

Shouldn't the CMED shareholders be voting on whether they approved of this ACB takeover or not, since I have not yet received anything in the mail to this point in time?

PROtrading wrote: https://www.marketwired.com/press-release/mm-asset-management-confirms-control-over-common-shares-of-cannimed-therapeutics-inc-2245590.htm

Big owners of APH and CBW as well.  

Thelonious wrote: what is mmam

I think the same rule of >2/3 shareholder approval will apply for CMED. And I believe >50% for ACB shareholders to approve. On the CMED side it's a lock IMO.

The fact that ACB have 48% locked up there really isn't much chance the offer doesn't go through. Only 18.66% additional shares need to be tendered to make it a lock.

The board of directors unanimously supports the takeover 64% of outstanding shareholders would need to not tender their shares.

I had been wondering why ACB would commit $140 Million to the takeover and I think I now understand. It is structured in such a way to provide incentive to tender, rather than passively accept the all share transaction as a default only in the event of 2/3 tendering.

Tendering is like voting in this case, except it places the cost burden on the brokerages and expedites the process. $140 Million is a lot to pay for expedition but it also stems dilution of ACB shares. It was a very clever offer.