If The BTO Offer Is As Bad As Some On This BB Say.....1) ...when are the large SBB shareholders going to go public with their outrage over this "bad" deal and state they will oppose it.....?
According to Simply Wall St.:
SBB's biggest shareholder is Orion Resource Partners.
Orion sold 27.7M of its SBB shares for $1.76 on February 12, yet still owns 45M shares or around 8% of the company.
Other significant shareholders are:
Zhaojin Mining Industry Co. 7.88%
Dundee Precious Metals Inc. 5.55%
Van Eck Associates 5.28%
If they remain silent, it would seem apparent they are in agreement with SBB's BOD on the BTO deal.
2) ....other mid-tier or major producers should be preparing to announce a superior offer for SBB.
I would expect that all gold producers have heard of the BTO deal by now. Further, it is quite common now that the aquirer's offer is in the form of shares as opposed to cash, so AEM, ABX, NGT, etc. etc. can simply make and all share offer that equates to a significant boost to the BTO offer at the new suitor's current share prices.
If neither of the above events occur before the deal closes, I think it's reasonable to assume that the big shareholders were willing to accept BTO's offer as is, and no other company wished to acquire SBB at a price signficantly higher than the existing BTO offer.
In my view, no need to guess what's going on. Actions speak louder than words, and if there is nothing but silence from both large shareholders and other gold companies, that will speak volumes IMO.