Re: ARU Keeps Going Up...Fearless
in response to
by
posted on
Sep 22, 2008 02:59PM
The company whose shareholders were better than its management
It seems to me that a very important possibility has been missed, a new more realist takeover offer comes from another miner and support for the K offer is withdrawn.
Fearless ....I have to disagree with you...
I assume your statement is based on your belief that Kinross does not own 89% or 90% of the shares to Aurelian at this time....
I think they do own those shares of ARU...and those shares can not be withdrawn......I am not an attorney and no one seems to have gotten a legal opinion as to what Kinross owns at this time, and what can and what can't be withdrawn....All I know is by their (Kinross) actions of appointing new directors and filing notices about the shares they own on Sedar, they have said they are the MAJORITY SHARE HOLDER OF AURELIAN .
For all I know this can be shibai ( Japanese for BS) but I have nothing else to go one of any legal note...
This does not however preclude some other miner from making an offer to buy all the shares of ARU from Kinross and the remaining 10% of dissidents....and maybe this is what you meant...
I think it is more probable at this point that someone( another miner) would make a bid for Kinross.....but I would wonder why as I am not too excited about Kinross's assets except the FDN portion that they own.....
As much as I hate to say it I feel we missed our chance to stop this "friendly" takeover when we did not try to get an injunction against the offer BEFORE IT WAS ACCEPTED BY OVER 66 2/3 %...
Just my personal opinion...