I'd say that RMS wanted to make a play for WGX.
WGX went and bid for Karora and didn't disclose the agreement it had in place with RMS.
The agreement between Karora includes that Karora should have a say in any agreements relating to WGX that have not been disclosed to them. Hence, legally RMS should not make a play for anyone prior to 14 November without being released from the WGX agreement.
RMS could have two issues here. 1 - they need Karora's consent prior to making a play. 2 - WGX should not have entered into the agreement with Karora. As they did, if RMS was to make a play for WGX, WGX may have to pay the break fee of $40m.
Just some scenarios I thought of after reading the document. Further clarification would be greatly appreciated. One would have thought, mandatory.
DYOR
I'd say that RMS wanted to make a play for WGX. WGX went and bid...
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$2.14 |
Change
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Mkt cap ! $2.456B | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
| 7 | 96948 | $2.13 |
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| Price($) | Vol. | No. |
|---|---|---|
| $2.15 | 39393 | 3 |
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