The directors of the company thought the offer was good, so they took it. The little shareholders didn't have a say.
"Primary Gold Ltd (ASX PGO) surged 30% on news of a takeover offer from its largest shareholder Hanking Australia.Hanking is a subsidiary of Hong Kong Stock Exchange-listed China Hanking Holdings Limited (HKSE:03788), has made an all-cash takeover offer of $0.0575 per share.Primary Gold’s independent directors have unanimously recommended that shareholders accept the offer, which represents a 47.3% premium to the last traded share price of $0.039 on 16 February 2018."
The directors of the company thought the offer was good, so they...
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