Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: nic who wrote (27238)	6/4/2000 5:11:00 PM
From: KJ. Moy	Respond to of 29386

<<someone who doesn't want to see the merger going through can buy 5% of the float, then file for dissenters' status - cost about $40M, of which you're likely to regain at least, say, half. Much cheaper than making an irresistible counteroffer and paying Ancor's break-up fee...>> My understanding is that the 5% dissenters rule is one of the conditions that is put on by both QLGC and ANCR. It can be waived by the two companies if so desired IMO. If one of the VC purchased 5% of the Ancor shares and play the devil's game, it can be dealt with by increasing the percentage by QLGC and ANCR. <<Why on earth is that clause in the merger agreement? Is that a legal requirement in Minnesota or something?>> Yes, the dissenters' rule is a legal requirement in MN, but not the 5% IMO.