Quote:
Originally Posted by lifetime fan
My guess, and it's a guess is that Hicks wouldn't have to use any veto until there is a formal offer for Gillet's shares.
Kay believes DIC made a formal offer on February 27, Gillet would have to inform Hicks of his intention to sell. So now Hicks would use his veto to block the sell and give him 90 days to at least match the offer on the table. At the end of the 90 days if he can not at least match DIC's offer Gillet can proceed to sell to whoever he wishes.
Like I said its only a guess but I'm hoping this is the case.
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That is the only way I can read the situation too; I think that must be it.
Quote:
Originally Posted by RedinSweden
That doesn't explain him saying "George doesn't have to sell" though. I am still confused.
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Yes, but say Hicks does match the offer within the 90 days then Gillet can still decide not to sell after all (and we go back to square one).
So, if the above is all correct then our only way out in the short term is if Hicks can't raise the 200M