Hi Firsova, Not possible for pxu's to be treated that way after a takeover. Takeover triggers redemption/conversion. That is the reason the offer discussed before, required a meeting of pxus to agree to changes in the pxus terms, before it could go ahead.
Best outcome for pxus might well be just such transaction, with me wanting a much larger percentage of the pie, than the 1st one promised for pxu holders of course.[being a pxu holder].
One interesting aspect of all this , is that a complete collapse in ppx prices, may in fact work to the advantage of pxu holders, as it makes more bucks available in a limited pot that a suitor might have for a takeover. ie ppx sitting at 2c, 120 mill available to buy business, bid at 50% premium[3c], rest of money, to try and persuade the hybrids to come out of their burrows.
Funny old world really.
Fascinating to know how the pxu numbers would stack up on a $30 to $40 offer.
cheers
SRS Price at posting:
7.4¢ Sentiment: None Disclosure: Not Held