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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: TheBusDriver who wrote (1896)2/18/2002 12:27:02 PM
From: russwinter  Read Replies (1) | Respond to of 39344
 
< jr. should swap its shares for x number of shares of the major?>

The other way around: the major swaps it's overpriced stock for the junior and the jr gets a premium. For example GLG could swap 1.2 US shares (equivalent to 12 X cash flow) = 9 bucks MFL for each share of MFL (future cash flow). When Dolores comes online in a few years this would be highly accretive. We would get liquid GLG shares which could be held or sold in the open market.



To: TheBusDriver who wrote (1896)2/18/2002 12:48:18 PM
From: Claude Cormier  Read Replies (2) | Respond to of 39344
 
Wayne,

Exactly.

Example: Barrick buys XYZ Mining out and offers one share of Barrick for each share of XYZ. If you own 1000 shares of XYZ, you then received 1000 shares of ABX and Barrick takes your shares of XYZ. If all shareholders tender their shares, XYZ becomes a wholly owned subsidiary of Barrick.


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