I guess they will gain control, it is not like they need to integrate a business to achieve synergies. Ron Brierley used to sit tight on positions above the 10%, sometimes for several years until another offer is forthcoming. That could happen here. Maybe Harvest know the takeover rules and are prepared to play hard if there is any oppression of minorities. Looking at the objective, I guess the acquirer is able to move ahead with a small minority. The test might come when it comes to further dilution by say issues to directors and executives. On the other hand, Harvest might simply be looking for a short term profit and will sell out for the 0.505 cents. Now the price is declared final, Harvest might rethink the strategy. It will be interesting to see. I sold early as I needed the cash for other gold investments which seem to be ‘on a roll’.
ARS Price at posting:
5.0¢ Sentiment: None Disclosure: Not Held
