Post by
Sooner on Nov 07, 2022 4:29pm
Stupid question - likely
But what, if anything, within WRN corporate governance would prevent something similar with WRN that is going on with TRQ/Rio....assuming of course what Rio is doing is technically not illegal.
Say for example, offer 80% of shareholders $4 cad ...and work some back door deal with HNW shareholders to give them $3 cad at closing + $1 cad + Interest + allow an independant arbitrator determine "fair" value of their shares if they abstain from vote?
As I said, at this point i'm assuming what Rio is doing is not going to fly ...but just curious if there is anything in WRN corporate bylaws that would specifically be in place to have checks and balance in place regardless if the LAW.
Comment by
jclarke042 on Nov 07, 2022 5:02pm
Not a stupid question. My guess is it's not what's in WRN's bylaws but in the Strategic Investor document, under which laws that arrangement is covered. I can check tomorrow on SEDAR, but if anyone wants to check it in the meantime.