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$3.69 azure minerals limited

Ann: Binding Transaction Implementation Deed with SQM, page-327

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PutSauce

510 Posts.

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26/10/23

22:19

Post #: 70564282
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Originally posted by 1ronnie: ↑

Tell me a deal wherein a takeover fails and the company continues to trade at its TO price immediately after failure; normally after a takeover is announced the stock trades at a slight discount to the TO price because there is an element of risk that the deal does not go through, but in this and LTR case, holders have been gifted because GH wants to kill both deals and make no bones telling all that that is her intention. Holders should carefully read the legal agreement, there is a provision for SQM to opt out by paying a termination fee I think A$15m.

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Was just about to post about the termination fee but could not edit my post a second time. That's chump change for SQM. In other words, a "binding" takeover offer. They've made 17.5x their initial outlay to cover that anyway.

AZS Price at posting: $3.49 Sentiment: Hold Disclosure: Held
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