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21:38
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Originally posted by gberra:
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Unfortunately this is what I thought would happen as per my previous posts. TAG must had hoped KKR would sell their 20% into the scheme for a profit. This may still happen. KKR are saying they will block the scheme arrangement and thus it will fail. They may or may not. At this point in time it’s in their best interest to say they will. Hard to imagine they will pick up many more shares at 16.5c considering people can sell on market for more. In short KKR can block TAGs scheme. TAG could hope KKR are bluffing and proceed with the scheme. I don’t think they will, proceeding with a scheme that is doomed to fail is expensive and very time consuming. They might though. Alternatively TAG can switch to a standard takeover and hope to pick up more than 50% which may then push KKR to fold. Still unclear what will happen. I’m not brave enough to buy at more than 20c. Wouldn’t be surprised if shares open under 20c Monday. GLTAHs
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”KKR are saying they will block the scheme of arrangements”
