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Originally posted by GTyson
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Happyoz. What Zijin can do with respect to mergers under Bermudan law is squeeze out minorities. This allows them to make a low-ball offer for our shares which dissenting shareholders can appeal against to the Bermudan High Court (which is what's happening). So, yes, they are forcing a takeover of minority shares but minorities want a fair price which will be determined by the court on the basis, primarily, of the fair value report commissioned by the group . Other factors may play into the court's decision such as the duress placed on minorities by Zinjin (suggesting that if 10% dissent then the merger could be halted). In my opinion, this should not be viewed favorably by the court. Other factors, notably mentioned by Macleod22, should be factored into the court decision. All this is in the open so no problem posting here.
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Great post GT
