Partial copy/paste from TDW Flash Note... The transaction will become effective if it is approved by:
66 2/3% of the votes cast by holders of priority units and special fund units.
A simple majority of votes cast after excluding certain unitholders, including Glencore (who own 25% of the units (non-priority)).
The Ontario Superior Court of Justice, following its consideration of the procedural and substantive fairness of the transaction.
. . . . . . .
Activist unitholders may object and look for improved offer.
Recall, on November 24, 2022, a group of Noranda investors who own approximately 22% of the outstanding priority units called for a special meeting to reconstitute the board of trustees. Noranda had arranged for the special meeting of unitholders to be held on March 28, 2023.
End of partial copy/paste. I wonder if there is any way of alerting, at the very least, The Ontario Superior Court of Justice to how pyssed off NIF shareholders are with Glencore's antics?