I have seen a list of NYSE list pharma companies that contains over 200 companies.
MYX is now on a strong growth path and the current offer is not good value. There are two tests required to be met for the Scheme of Arrangement to succeed. Ist test is +50% of total shares voted. The second test is +50% of shareholder votes.
So if a large number of small shareholders vote no then the scheme can fail. I have been told this happened to Qantas many years ago where the majority of shares voted exceeded 50% but the number of shareholders who voted no was above 50% and therefore the Qantas Scheme of Arrangement failed.
The same outcome could occur to MYX if enough shareholders vote no. It is up to shareholders to vote.
MYX Price at posting:
$7.23 Sentiment: Buy Disclosure: Held
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