UMC 0.00% $1.30 united minerals corporation nl

Part of the extraordinary conditions the so-called UMC board...

  1. 190 Posts.
    Part of the extraordinary conditions the so-called UMC board allowed for this deal was that BHP was given the right - yes, the RIGHT - to match any counter offer.

    Basically if anyone else bid, BHP would match it and the new bidder would lose out - and with that would go all the costs of mounting such a bid.

    The only way we can get a new bid is if this deal is voted down - that opens the way for a new bidder to put in an offer and actually win - or - to the benefit of the shareholders - at least push the price up (Hang on! Isn't that what the board is supposed to do?), or make some money for themselves by later selling to a higher bid.

    My NO vote is in.

    Good luck to all and DYOR
 
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Currently unlisted public company.

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