Re: What was the real reason for the 15 mill. PP?

Aurelian Resources Was Stolen By Kinross and Management But Will Not Be Forgotten

The company whose shareholders were better than its management

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ebear

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Re: What was the real reason for the 15 mill. PP?

in response to

What was the real reason for the 15 mill. PP?

Raglo

posted on Sep 23, 2008 12:06AM

What was the real reason for the 15 mill. PP?

To prevent a counter offer. You need 90% to force tender. 15M is >10% of the outstanding. Thus, no one could get past 90% without Kinross's approval (which wouldn't come cheap).