RE:RE:RE:RE:ANY NEWS? HALT?News out now - MOU about a Reverse Take-over.
I would have to see the financials and operations of the acquiror party but I don't think this is a good deal for us. We are going to dilute our combined ownership of the company down to 20% so that existing SPDR shareholders have no influence over the direction of the combined company.
Further, it would appear that it would be completed as a share for share exchange or a simple amalgamation. If that were the case, unless the underlying net assets of the combined entity would be greater than 10 cents per share post-transaction, I don't think there is any value for current SPDR shareholders. Usually there is a sweetener of some sort for the acquiree but I don't see it.
It's a preliminary MOU though until mid October 2019 at which time a vote would be convened.
I am assuming this halt should be lifted shortly.