It's more than likely that any type of CR will be part of the Takeover.. Obviously to Hanlong:
Here's how I see it: Takeover to be done in 2 phases: Phase 1: Hanlong to buy a direct equity stake in BMN for $xxm allowing BMN to.. Etc.
Phase 2: Hanglong will buy 100% of remaining shares for $xx per share under a scheme of arrangements etc.
Both subject to member approval, but check GDO takeover terms they mirror the above, but their bidder only required 60-70% of total shares through takeover.. And it's not uncommon to get a cash injection from the bidder, This would also give Hanlong their first direct stake in BMN and 'sure up' the takeover will happen.
Just my opinion, but I'm expecting something like this rather than any other type of CR considering the company is in talks fir a complete takeover
BMN Price at posting:
35.0¢ Sentiment: Hold Disclosure: Held
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