cre takeover maybe, page-33

"In that case then the 75% clause would come into effect which states"

yes it could.

Its very interesting to see how focus have structured this. They have many options available to them.

This is the first takeover I have been involved in and its a good learnig experience to see how it all pans out.

Stone is certainly an incovenience if they are out to block. They will need to make an offer soon if their intentions is more.

The ball is in FML's court. If they extend the offer till after the meeting then they are certaily still interested.

Mind you the notes vote is not a given, FML cant vote their holdings. DB can probably still vote their remaining holdings which would cancel out most of stones holdings so it will be up to the holders who havent accepted to carry the vote.

Another factor is the share market woes. If CRE price goes south with the market and the notes are passed FML can potentially end up with a higher % as a result of converting the notes.

I am selling most of my stocks today, FML is one of 2 I will be holding.

good luck all
tough times ahead