Where's The Hoov when you need him?

IMO it's like this. 3 Options.

1. FWR'ers can tender their shares to NOT by Dec 11 (Friday) if they like that deal. If they don't do it by Friday, Wes has said publicly that is their final offer. Some think he will renege and will up the offer again. I think that would be the worst thing he could ever do as he has also publicly stated that NOT is in acquisition mode. If he were to renege on this deal every deal in the future would be affected and we would pay dearly for his actions in the future.

2. FWR'ers can abstain from tendering to NOT and vote YES to Cliffs deal. At some point there will be a special FWR shareholders meeting in regards to the Cliffs 'Plan of Arrangement'. A 'Plan of Arrangement' is a term used for acquisitions that cross the US/Canada border. At that meeting there will be a vote to either accept or decline the Cliffs latest offer. If they get 66.6% of the vote it is All or None.

3. FWR'ers can abstain from tendering to NOT and vote NO to Cliffs deal. I believe that it there is 33.3% voting against the Cliffs deal that it will fail. Common logic would suggest that if NOT can garner 33.3% of FWR shares that they will vote against the Cliffs deal.

I suppose there is a 4th option which is to do absolutely nothing in which case your shares will be removed from the voting pool.

That's how I see it and request any comments if I'm off. My opinion on how this will all break down is another thing.

Brattymack

PS1. Antlizzie - thanks but I am most certainly an amateur and my opinions are largely based on what I have learned from here and from Google searches etc. And, as per esterbikini's post - I agree. I don't see how Cliffs will have any shares of Noront unless they tender them to Noront (which would be insane and probably illegal).

PS2. Eagles win baby. Philadelphia Eagles that is....