OTCPK:PALDF - Post by User
Post by
crow27on Oct 08, 2019 9:20am
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Post# 30206735
I don't recall ever seeing
I don't recall ever seeinga two teir structure on any buy-out. Common share holders get one dollar value and controlling share holder (Brookfield) gets another dollar value.
The only thing I can think of is Brookfield felt they just could not unload $40 million shares into the market in a fashion that would not totally destroy the share price. So someone makes an offer and gets them out rather quickly (not years) and they went for it.
As mentioned it is now open season for any other companies to make a much better offer.
I'm still scratching my head on this one. We need to see Q3 results and hopefully Pd stays very high for Q4 and that lights a fire for higher bids.
I also believe PDL can also accept a better offer even after the 30 day lock-up agreement but they just pay a few more million to Impala as a penalty. So PDL can actually accept any better offer almost up to the time of closing of this deal. And of course Impala can match any other offers and still win the bidding war.
Lot's of things in motion still.