Noranda Income Fund Unit NNDIF

RE:So they only need a simple majority for this to go through?

[ljp0101]

Majority of the minority votes is the requirement (and two thirds of all votes including Glencore). You're protected by appraisal rights in theory but it'll cost you more money than it's worth. Lots of parallels here to the TRQ situation.

Don't think the vote is in the bag by any means. Win/win setup for Glencore because either: 1) they steal CEZ; or 2) they have carte blanche to screw NIF on capex funding and say we told you so. IDs really shouldn't have paid out the dividend while citing funding concerns as a deal rationale.