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10:58
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Originally posted by Westwind
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Yes, my understanding is that they have to get to 90% acceptance if they want to acquire the whole company. But I think they have muddied the water in offering the alternative of an arrangement whereby existing shareholders can remain involved if they are prepared to accept part cash and part shares in an unlisted holding company. It all became a bit too complicated for me, but I can't see any existing shareholders participating in this alternative if they are locked in for about 3 years with no clear exit arrangement. It is also not very clear if REA will accept something less than full control. There is very little independent commentary on the options.
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TY Westwind. My only doubt is that how can an institution not accept any deal. I thought you get $4.00 per share unless you elect to get cash and shares in new group. Maybe if 10% are against it would have to go to court. I don't want to sell at all.
