STEVE- FROM A YAHOO POST: THIS 8-K SOUNDS INTERESTING.
post.messages.yahoo.com@m2.yahoo.com
Something's definitely up with the 8-K Filing...
by: AlanGreenSpam 23962 of 23970
I've compared the 8-K amendments with the existing "Rights Agreement" (read: Poison Pill).
I concur with Golongson that OMKT may be getting a new Board of Directors -- well, actually in the process of merging, the newly formed company will most likely have a new board of directors).
From the new additions to the "Rights Agreement" in the 8-K, it appears that their attorneys enhanced considerably the detail pertaining to what happens to the "Rights" of shareholders AFTER A CONSOLIDATION/MERGER/SALE/TRANSFER OF THE COMPANY! If this isn't bold evidence, I don't know what is.
Some of the added language specifies what the "Principal Party" (meaning the new company resulting from acquiring/merging with OMKT) must do following an acquisition/merger.
For example:
"(ii) Such Principal Party shall thereafter be liable for, and shall assume, by virtue of such Section 13 Event, all the obligations and duties of the Company..."
and:
"(iv) such Principal Party shall take such steps (including, but not limited to, the reservation of a sufficient number of shares of its Common Stock) in connection with the consummation of any such transaction as may be necessary to assure that the provisions hereof shall thereafter be applicable, as nearly as reasonably may be, in relation to its shares of Common Stock thereafter deliverable upon the exercise of the Rights..."
In other words, the foregoing clause ensures that the "Principal Party" resulting from the the acquisition/merger will provide enough of their own shares available for such a transaction.
This does sound very interesting. Looks like OMKT will be bought out or merged sooner than we thought. Has anyone considered SUNW as a possibility? After all, OMKT's strength is in the UNIX world.
=====
SUNW? Maybe not a likely acquirer unless they want to discontinue Netscape's product. But, as I understand it, AOL didn't necessarily buy Netscape for its software anyway. They wanted the portal.
|
