If ORG had ‘any spine’, they should have insisted that Brookfield if Brookfield go above 5% holding, they make a ‘hostile’ takeover offer for 100% with a min acceptance level of at least 66% or more rather than a simple 50.1% which gives them control to do as they like. Basically that would mean that if they get a small foothold, it forces them to see if they have SUBSTANTIAL support of shareholders to control ORG (& dismember it as they indicate) rather than just ‘creeping’ over the 50% control line and leaving shareholders who dont accept the offer stranded with the consortiums wishes. Reeks of ‘bully tactics’ .... Accept our offer or risk being ‘stuck with the whims of the consortium as we sell of the juicy bits to ourselves’, when you have no idea which way the result might turn out.
ORG Price at posting:
$8.25 Sentiment: Hold Disclosure: Held
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