re: Ann: TOV: PaperlinX SPS Trust PXU Panel D... -the circumstances identified by Coastal Capital did not appear to be coercive to SPS holders
-it is not clear why the documents that Coastal Capital
seeks to be disclosed are required now, given the length
of time the SPS Trust has been listed, and
-there does not appear to be anything expressly prohibiting PaperlinX making the bid, or warranting the Panel interfering with the bid. SPS holders are free to accept or reject the bid as they wish.
All points are valid. It did seem a weak case. I think this outcome is best for everyone because it will force Coastal to make its next move.
The decision itself doesnt matter much as far as the take over. Acceptance has been minimal to date and we are fast approaching the closing date.
It is significant because you have the EGM ruling that went unchallenged and now a take over pannel ruling in PPX favour. Almost giving them the green light.
The votes PPX secures in this buyback will be minimal, but they all count when trying to block. Not that they worry when their one vote can block. They wont get enough control to hurt others.
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