OTCPK:PDPYF - Post by User
Comment by
Maxmoeon Aug 11, 2020 2:03pm
175 Views
Post# 31393839
RE:Second bid
RE:Second bidAgain, I refer you to the HBC deal as a guide. Baker et al had OVER 50% locked up at a steal of a deal. BUT a couple hedge fund activist investors said no not enough. And this is KEY. The majority of the minority has to approve the deal, not just 66% of total votes cast. So management pittance, CNQ and affiliates, plus any locked up large blocks, are excluded from the majority of the minority vote. So go find a couple activist,hedge fund, greenmail type guys. I wouldn't worry about the break fee if another bidder emerges they can drop a mill on legal wrangling to drag the payment out for years if it ever gets paid