RE:RE:RE:RE:RE:RE:RE:Very quiet now, we are resigned to the buyout then?In a nutshell, you are correct for those having 6 figures or more in the number of shares. For every 100,000 shares of ATAC you own, you will now get about 333 share less or HL, or about $1,800 USD less based on current HL trading values.
If you own 1 million shares, you just took an $18k haircut. That's not chump change, and although I don't own 7 figures, I do own shares in the 6 figure range.
Here is how a M&A announcement is supposed to (and practially always does) work:
1) announce a set dollar figure per share (i. e. a cash buyout) or 2) a set number of shares of the acquiring company in exchange for the target company.
What we had is some sort of screwed-up hybrid of the above. HL didn't commit to cash or a set amount of shares, rather there was some sort of vauge reference to a "value of 14 cents CAD" per share. Hey great, I can commit to buy anything today for some set price and then wait to cherry pick the timing to make the acquisition fit my preferred price range. This was absolutely botched from an objective point of view.
Sorry, but I don't really trust Hecla all that much at this point. This whole deal doesn't pass my sniff test. Did you see how they swept in an boned the Alexco shareholders at the point where they were the weakest? I think HL are basically a bunch of predators and we should tell them to get lost or to treat us fairly if they want us to play ball with them.
None of us woke up a few months ago and thought to ourselves, "Hey, I wish HL would make a lowball offer to relieve us of our assets". Yet, this is what they are trying to do. I am awake to the details, are any other shareholders?!