RE:They have extended the date to tender shares until March 24!InvestorSara wrote: Seriously!!! Why can't people have it done by now.... grrrrr
I believe the fault for this whole scenario lies with Aurora themselves.
By not having a clearly communicated and definitive Default action for this Corporate Action Notice, not tendering your shares became the default action. They should have chosen either the all-share Option 1 or the all-cash Option 2 as the default action. By sticking with the same non-tender as the Default action on this second round, the exact same thing is going to happen again
They'll never get anywhere close to 100% of the shares being tendered no matter how many rounds they do. There are simply far too many long term shareholders who don't tend to follow their holdings that carefully or even to monitor them at all. And then you send them > 100 page documents with legal fine print and expect them to read and understand them. Straight to the recycle bin, I would imagine.
Any bets this second round might only get them up into the 80% range, but probably not much more than that. How screwy.....LOL