Altogether MIN now owns 20.99%. It has to get to 90% to takeover NWE.
it needs 90% to compulsorily acquire all remaining shares. If it gets to 50% +1 it controls it . If they get 35% - 40% it may be able to get effective control - remember Kerry Packer controlled Nine after he converted outstanding debt from Bond which resulted in a 38% holding. If this occurs don’t expect any favours from MIN. If you examine some recent history with EMR / bulls eye takeover they got 62% and have embarked on a rights issue to fund bulls eye operations, rather than borrow . They have also flagged more rights issues for the minorities.
not saying it will happen but something everybody needs to consider.
- Forums
- ASX - By Stock
- NWE
- Ann: Norwest Directors Unanimously Recommend MinRes' Revised Offe
Ann: Norwest Directors Unanimously Recommend MinRes' Revised Offe, page-315
-
- There are more pages in this discussion • 96 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)