Re: Will this happen?

HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Hobbit

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Re: Will this happen?

in response to

Will this happen?

Jockfish

posted on Sep 12, 2021 10:24PM

Jockfish, I think that's why BHP forced Wyloo to submit their offer in writing.

When BHP tried to invest in NOT in the spring Wyloo repeatedly (3x?) prevented them from doing so, ultimately forcing BHP to submit the $0.55 buyout offer. Wyloo then just played games with their non-binding $0.70 offer. If BHP had increased their offer, Wyloo would have just thrown out non-binding offers ad infenitum and BHP wouldn't have gotten anywhere - although we might have seen the share price increase. :-)

Wyloo has admitted they can't buy up more shares on the open market as that would trigger the poison pill.

I'm guessing BHP needs to maintain the higher bid, or the BOD will be forced to declare the Wyloo bid superior which may allow Wyloo to increase their holding.

Certainly an interesting, if somewhat confusing, game, but I won't trust any of the players, including the BOD, until we start to see some truly "fair" offers.