Haven’t read that anywhere. But I have read this:
As a takeover bid is driven by the bidder and does not require target consent or co-operation, it can be used for a 'friendly' or 'hostile' acquisition of a target.
Under a scheme of arrangement, the target company seeks the approval of its shareholders and the Court to propose the scheme following an initial approach by the bidder. Therefore it is the target who controls the scheme process, with some involvement from the bidder.
As a scheme requires the agreement and co-operation of the target, it is only suitable for a 'friendly' acquisition of a target.
https://www.minterellison.com/artic...rrangement-structuring-a-friendly-acquisition
AGO BOD certainly appeared happy and friendly with this attempted friendly
Acquisition. Wish Chris was a little nicer to us others as well, after all it is friendly right.
Enough of my rants, nothing changes my mind on the current offer. Certainly voting NO
