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14/11/23
16:33
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Originally posted by GCar:
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That’s right, we don’t know for sure. My point is that we should know for sure, because it should have been a priority for the companies to seek and receive the ruling already. They announced the merger proposal 6 months ago iirc, so they have been planning it for significantly longer than that. Surely the mechanics of the merger are not so complicated that the ATO needs 6+ months to apply their rules and make a determination. btw I agree that it should go through ok (scrip for scrip rollover) but that is just my assessment and at risk of being wrong. We don’t want unnecessary risk at a time like this, imo. ps. Did someone say they have applied for a court ruling to remove the >50% shareholder yes requirement (or whatever the threshold was)..? That reeks of desperation by the BEOT imo if it is the case. Again, apologies for not being across the detail in the report yet. Tia
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If they are trying to remove the 50% threshold that is a sign of desperation. They may be able to get the unmarketable parcels removed but anything more than that I doubt a judge will approve, and should not. The ruling is there for good reason.