takeover Skip, page-195

I say they can't drop GNX. Two major reasons:
1. They aren't just buying GNX for the assets but they are also buying some of the Directors experience especially in Hydro. So they cannot just get out and get the experience. They want GNX's assets as a base but also some of the management experience.
2. If they sell large parcels I think institutions will be willing to buy chunks of parcels. Say 2.5% each at current market cap is approx $7.5M and then apply 10-15% discount say $6.5M-$7M chunks will be lapped up I reckon. So you only need 8 of them. Plus retail investors will also jump knowing Management rejected a higher offer than the market rate. Plus GNX is no longer an unknown company. Once GNX develops Hydro then GNX becomes a real renewable player in the market. It will be able to obtain easier finance showing it developed a large infrustructure project. This would make GNX a major rival for any entity Skip Capital was to form. They don't want the competition.