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Message: from UALL on Stockhouse
He/she requested their post be published here and at StockIgloo. Only obliging UALL.
35 day notice requirement is only for takeover bid
Hey Everyone,
It seems to me that people on this board are expecting a news announcement any time now regarding a merger (because record date is tomorrow and because it's exactly 35 days before the meeting). Please understand that the 35 day requirement is only meant for takeover bids. Because the Russians hold a controlling stake in both companies, the merger is likely to take place in the form of a business combination rather than a takeover bid. If that is the case, the information circular is not required until 24 days (and in some instances 21 days) prior to the special meeting. So while we may get more information in the next couple of days, I wouldn't hold my breath.
P.S. I don't have an account at Agoracom or Stockigloo, so it'd be nice if someone cut and pasted the above into those two blogs. Thanks.
It seems to me that people on this board are expecting a news announcement any time now regarding a merger (because record date is tomorrow and because it's exactly 35 days before the meeting). Please understand that the 35 day requirement is only meant for takeover bids. Because the Russians hold a controlling stake in both companies, the merger is likely to take place in the form of a business combination rather than a takeover bid. If that is the case, the information circular is not required until 24 days (and in some instances 21 days) prior to the special meeting. So while we may get more information in the next couple of days, I wouldn't hold my breath.
P.S. I don't have an account at Agoracom or Stockigloo, so it'd be nice if someone cut and pasted the above into those two blogs. Thanks.
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