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Non-Tech : TD Waterhouse Group (TWE)
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To: Harry Sharp who wrote (1399)11/1/2001 8:27:15 PM
From: Ian@SI  Read Replies (1) of 1413
 
if they acquire 90% ownership, they can then force the remaining minority shareholders to sell at the offered price. i.e. - the shares will no longer trade, but can be exchanged for 9.50 each They need to have 2% of the shares tendered (about 15% of the float). The price increase indicated that they didn't have the required 2%. Unless the stock starts trading above 9.50, I'd guess that they'll probably get sufficient shares tendered to force the sale to them of all outstanding shares.
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