It's only a formality. After Nord lodged their complaint against CDV board's ridiculous interpretation of a higher competing offer SG came out shortly afterwards and confirmed Nord's $1 offer wasn;t higher and didn't trigger SG making a higher offer. TO Panel never even formed a panel to review the complaint so quickly did CDV retract their stance.
More interesting is Nord's current complaint about CDV board assisting the shareholder SG acceptance intention release and supporting SG's offer. If the TO Panel agrees that was not on and shareholders are released from their legal obligation to now accept under the truth in takeovers, then SG are swinging in the breeze again at 11% holding and between our two bidders they will not control the board. Might change the game but I doubt it, as I doubt Nord will have their complaint upheld. All part of the master plan so cunning you could pin a tail on it and call it a weasel...
CDV Price at posting:
$1.01 Sentiment: None Disclosure: Held
