It has been called a takeover by DRM, it has been referred to as a merger as well. Now the announcement has made it clear. DRM want to acquire all of MYG ' s listed options and shares. It's a takeover...MYG will cease to exist, and presumably the board in the interests of economy of scale, as well.
I can see shareholder resistance to this takeover bid if it is not spelled out very clearly in advance as to the size and composition of the new board. If there is any suggestion that the new board will be super sized so that all members from both boards retain a position, and thereby sending total remuneration into the stratosphere, I can't see the shareholders having a bar of this bid.
My take on this may sound like nonsense and turn out to be nonsense, but I have seen all manner of trickery in other instances to not be as wary as a cat when it comes to the possibility of some directors losing their jobs.
MYG Price at posting:
3.1¢ Sentiment: Hold Disclosure: Held
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