Vayama --- you said " I was told today that all the UMC assets go to BHP with the takeover "
Not sure about the cash ( except it has to be more than "nil" at the time of the takeover ). However, as for the other assets ( Mt Robinson etc ) the ASX release of 16 October states " UMC has agreed to conduct a restructure of it's assets so that on the Effective Date" UMC only holds the assets relating to the Railway Deposit ".
As posted earlier today, the UMC directors can dispose of the " other assets" without requiring a shareholders meeting ---- in order to fulfil the above agreement with BHP. And, they are required to do so.
UMC Price at posting:
$1.26 Sentiment: None Disclosure: Held
