NWE (ASX) Ann: MIN: Extension of Norwest Takeover Offer

Originally posted by alexei ii: ↑

tThey wont close until 1st July 2023 or they get 80%. imo. unless they read this and decide to cut their nose off to spite their face.

To get a sense of how much money is involved...Let's say its 4 billion at average of 4c profit. Thats $160 million profit. Tax on that at say 30%= $53 million. Tax on that at 15% is $26 million. So somewhere between 25 and 50 million of TAX. Its a fair chunk of money, those that accepted the MIN offer will have to pay out.

By my reckoning, the tax bill is too big to ignore and they have too many friends that helped them by folding. So they (and their friends) will try anything to get to the 80%. And think of it, all the acceptors did, was give MIN a bargain and they now cop a tax hit for their generosity. Can you imagine fronting up to a party and looking at your friends in the eye and saying << soz folks, i stuffed up....but not my fault...who could have predicted these brainless NWE holdouts would have held out so much?!!! >> yeah ... nah.. ...not going to cut it ... you'd have expect to cop a handbag across the head or a bunny punch with the pistaccios when no ones looking.

and did i say pistaccios? @Pottermore thanks for the pistaccios mate. They are the best!! After my tax free NWE payout in 2024, I'll buy some land next to you and plant a few (thousand) trees myself!!!

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Let's be honest though. Do we really think CE gives a rats about getting to the 80% solely to satisfy those that have accepted and give them a tax break, those same ex-NWE shareholders (that are still holding MIN mind you) that might make up circa 1% of MIN's shareholder base? I doubt he gives a toss.

At least if that's correct that he needs to wait 1 month from closing the offer to even APPLY for delisting (APPLY, not saying it will happen), then that ain't happening before this drill has reached TD, which is great news. And by the sounds of it before it could happen anyway, even if granted by some crazy stroke of luck for him, both drills should be complete, which is satisfying to know. The longer we remain though hopefully the better the payout price will be, because he will take us out at some point, we just want a fair price, not this lousy one!