I beleive you also felt that K could hold up a takeover by another company by there supposed 10% holding in ARU.

That wasn't me.....

hawnkoa

No, I said that. It's true they have to tender to a superior offer, but only if ARU management believes it to be a superior offer. As I understand it, there's no such condition attached if the offer isn't deemed "superior." So, what's the threshold for a superior offer? There's a lot of weasel words in that circular. You try and find it. I couldn't.

I might be wrong here, but does anyone have a better explanation for the PP? Seems kind of redundant if you're going to end up with the company anyway, doesn't it? Why go to the expense, since it has no effect on the tender and the money just moves in a circle?

ebear