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$1.90 kidman resources limited

Ann: Proposal from Wesfarmers, page-121

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harty2660

171 Posts.

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02/05/19

11:36

Post #: 38372002
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Originally posted by butcherboy ↑

I checked through the voting deeds and they terminate if the contemplated bid is below $1.90, so the door has been left open for higher bids. I'm fully expecting that a final price north of $2 will need to be paid to get enough shareholders on board. I assume the transaction becomes mandatory for all shareholders, resulting in compulsory acquisitions of the remaining shares, when they achieve 90% of votes in favour.

Re: bids from other parties, they can't actually solicit them because of the exclusivity deed that KDR management has agreed to: "Kidman has agreed, subject to fiduciary exceptions, to certain customary exclusivity provisions during the Exclusivity Period, including “no shop”, “no talk”, “no due diligence”, and notificationand matching rights."

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"Exclusivity Period, including “no shop”, “no talk”, “no due diligence”, and notification and matching rights."

What does this mean to a layman like me, can other parties come to the table or not?

KDR Price at posting: $1.84 Sentiment: Buy Disclosure: Held
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