Well in that case, it is really legally an acquisition by ORE of GXY instead of a merger between ORE and GXY.
There is even a penalty clause for GXY ( of $16M ) if GXY board / directors recommend against the scheme and instead recommends a competing bid, but no penalty clause if ORE did the same.
It may be promoted or marketed as a merger but it appears that the legal constructs are an acquisition.
ORE Price at posting:
$7.69 Sentiment: Buy Disclosure: Held
