Exactly......................
Printable View
Yes I wouldn't be happy at all if I was a shareholder in Turners. This for all intents and purposes looks like a punt on a binary event with potential for significant value destruction...a punt on a blocking stake. How do Turners directors think they can fairly value MTF shares in the circumstances ?
The mind boggles to understand how Turners directors are exercising their fiduciary obligations to shareholders in good faith and in their best interests.
https://en.wikipedia.org/wiki/Fiduciary Maybe they want to reflect on the definition of fiduciary duty.
Reading between the lines,I think HNZ have done a deal with MTF,and regardless of the outcome will make an offer or maybe some other deal.
Otherwise why postpone the AGM? And didn't MTF sort of support HNZs interest in the company.
There has been harsh words between these two companies before so I think you're drawing a very long bow with that speculation.
Agreed.
MTF constitution requires consent of the company for any shareholder to own more than 10% thereof, (source, content contained in Turners notice of proposal to acquire 20% stake).
Anyone looking to take this puppy over will need to be working closely with its directors.
LOL too funny !!Quote:
Perhaps they have a few spare dairy cows and they're running them in the race to give them something to do.