my post from yesterday, page-3

dynofish - great post and very pertinent questions.

I have been digging - and I am not a lawyer - and lawyers 2 cents worth could add light here.

(As an aside I posted a SMH article which quoted a Mrt Peac*ock - and the HC Censore rejected it! - darn - it happened again - just remove the *

There seem to be two ways under the corporations to takeover a company

(1) A takoever - which we are fairly familiar with 19.9% threshold - open market offer obliged - if 90% then compulsory etc etc - a very fair and open approach - if somewhat bl*oody at times. The shareholders can vote with their feet - and a bidding war can ensure that the sale price is a full price.

(2) A Scheme of Arrangement - by definition a friendly affair - with the price agreed behind closed doors. The matter is decided at one time by a meeting - with 75% - and p*oof - the whole company is gone.

It seems from the press, companies trying to buy or sell prefer (2) while shareholders and most market commentators prefer (1).

Kind of speaks for itself.

I feel most of the anger here is due to

(1) the poor management and poor management handling of bot good and bad news
(2) The way the thing is being done.



(2) a scheme