"At that time KWG will have the statutory right to dissent and to demand to be paid, and to be paid, the fair value of its Spider shares, which KWG believes will exceed the $0.19 per share being offered by Cliffs."
Interesting avenue! I still have my Spider shares, being unwilling and reticent to tender at this price... Why not keep them???
Dissenting shareholders (190 CBC Act) have the right to ask that their shares be bought back at 'fair value', if they dissent on certain resolutions (amalgamation, squeeze-out (ousting) transactions, sellling or exchange of substantial assets, decision to go private...).
As the forward-looking statements imply, however, there is no guarantee that such a move will happen in a near future, but it will probably happen before mining. Cliffs will have to amalgamate Spider and FWR, or merge Spider with the Canada Inc acquiring corp, or transfer Spider's assets to FWR or Canada Inc, etc...
And as time goes by, the chances that our minority shares value do increase are very very good: Cliffs will be advised to make a move as soon as possible!
So for the patient investor (Spider and KWG holders have certainly patience!), a minority position in Spider now may have its worth! I will sure think seriously about it... Awaiting Cliffs's response to yhis KWG NR, if any...
Piggying-back KWG... May be a good idea here!
GLTA.
BaBe.
