WebTech Wireless Inc WEWWF

Votes against the transaction

[ddun]

I was told by an investment banker/broker/Fund manager  that 22.5% of the shareholders representing 3 Institutions and one company have voted or intend to vote against the transaction. As the plan of arrangement needs 2/3rd majority (66.67%) this a major blow to the deal. Very few people actually vote, so a large negative vote tends to cause significant problems. If others vote against the merger then it can be defeated. The board was not supportive of deals at $2.75 and higher and the buyers might come back if this merger is defeated. if the merger is defeated we will likely get a higher price.

[newdaydawning]

Very skeptical that a fund manager would be privy to otherwise confidential information from four sources. Here's a more reliable update to this story: LEADING INDEPENDENT PROXY ADVISORY FIRMS GLASS LEWIS AND ISS RECOMMEND THAT BSM TECHNOLOGIES AND WEBTECH WIRELESS SHAREHOLDERS VOTE FOR THE MERGER

[newdaydawning]

https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aGPS-2310518&symbol=GPS&region=C

[ddun]

Wait till the voting day. There will be at least 22.5% votes against the transaction. That ought to make you less skeptical. I think it is going to be close. Depends on the how many shareholders vote. If fewer people vote this will be defeated. To counter balance the negative 22.5% vote, the company needs at least 45% yes votes. They already have 33% and all they need is 12% more. But if more

[Lucentio]

Merger approved  see the news

[Lucentio]

Deal is done, see the News