No, not normally.
However your narative is suggestive of TO being some lowball offer equivalent to daylight robbery.
An impending doomsday brewing in the shadows.
Not a constant possibility.
The fact is: TO has to be approved by major insto holders. And I assume not many of them are in the green atm (Black Rock for example).
They will think long and hard about validity of TO offer and risks GXY faces.
With all due respect, they will do much better job at evaluating GXY value and prospects then an average investor.
If there is lowball TO and they accept it, LT holders should probably be happy that it happened.
Because in all likelihood it would save them from going through liquidation and losing their entire investment.
Which I certainly do not think is the case right now.
Otherwise Black Rock and co will reject the offer.
Big money cannot get easily manipulated as you or I.
You should be more worried if GXY is subject of hostile TO at premium prices. As that tends to steal future prospects from shareholders.
Instos selling at profit to another company they are already heavily invested in is good for them, but not the retail investor.
Cheers
GXY Price at posting:
$1.64 Sentiment: None Disclosure: Not Held
