RE:Merger DD : Let's Talk About Dilution On March 21st, SGNL announced that the Company had … « initiated a process with BMO Capital Markets as its financial advisor to evaluate potential strategic alternatives to advance the Goldboro Project … The strategic alternatives review could include, among other things, a joint venture transaction, a sale of the Company, the Project, or all the assets of the Company, a merger or other business combination, or another form of strategic transaction. »
That process was publicly announced and any interested party had all the time needed to show its interest, do its DD and make its pitch.
But now, according to various « back of the napkin » calculations, you FEEL that after going through that extensive seven month process with BMO and exploring every possible avenue going forward, management did not settle on the best deal they could for the shareholders. So, you want to turn down the deal they negociated, and somehow expect that same management to turn around and come up with a way better deal in a reasonable lapse of time.
I’m sure that if some other interested actor feels it has a better deal they are willing to offer, they will manifest themselves before we get to vote. Otherwise, it might be overly optimistic to hope that some white knight will come forward and offer a better deal after we have rejected this merger.