11-10-2013, 05:26 PM
(11-10-2013, 10:56 AM)cif5000 Wrote:(11-10-2013, 10:22 AM)opmi Wrote: To motivate higher offer for Superbowl - better to solicit Hiap Hoe shareholders to vote AGAINST the IPT takeover offer.The common minorities are almost in the same shoe as HHH - except that they get to vote and they can leave without having to top up HHL.
Since SB and HH has common minority shareholders. e.g. Morph and Pang.
HHH has about the same stake in both Superbowl & Hiap Hoe. So, whatever "loss" that they incurred from Superbowl getting a lousy offer is made-up by the equivalent gain they get from Hiap Hoe.
It's not so for other common minorities. Morph & Pang, in particular, will likely vote against the deal, since their "loss" in Superbowl exceeds the corresponding "gain" in Hiap Hoe.
Still, they only have 1.2% of Hiap Hoe, and are against Hiap Hoe minorities who don't have a big dis-proportionate stake in Superbowl. Can win?