Bema(Bgo) and Arizona Star Message Board

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Gold/Mining/Energy : Bema(Bgo) and Arizona Star

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To: link who wrote (8095)	10/28/1997 12:11:00 AM
From: Joe Bilich	Read Replies (1) of 10482

I'll take a stab at it-- no shareholder approval needed for an asset sale--management of assets is what management is there for (whether you agree or not with what has been done) yes--in a way this opens the door for competing offers. We should consider this the best "friendly" deal that BGO will get in the near term. It is "friendly" in that it was negotiated with BGO management (and follows largely the "shape" of the deal BGO management said it wanted--keeping BGO around as an independent entity) rather than aimed at the BGO shareholder in the market. Any competing deal will likely be hostile and pitched directly to the shareholders, not negotiated with management. Not predicting that such an offer will emerge--many may be willing to let PDG fund the feasibility process and preserve their own capital.

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