I never said it was anything more than an opinion Pete.
Though I do think I am a lot closer to 'truth' than you on this matter.
Your questions do not reflect the reality of the situation.
You appear to be far too emotionally involved in this for your own good and have been for a long period now.
EVN is the big suitor who had 30% of the shares before the offer was increased.
What would the PXG directors do in your scenario when they lost control over the company and EVN had 50% plus of the business, which would have likely occurred with or without the PXG directors suggesting that holders accept the deal?
They wouldn't have the power to run the business in the long term and it would be easy for EVN to eventually gain control of the board.
How would the ideal PXG going it alone scenario look then? Not very rosy I would say.
Further, there are business synergies to combining the businesses.
The corporate reality is that PXG and its deposit on its own is not as strong as it will be as part of ore feed for the larger entity.
The directors only recommended acceptance after they had given opportunity for other suitors to emerge or Zijin to make a further offer (and they didn't).
If PXG is going for such a steal don't you think they would have?
Now holders who want to sell out can get a premium to the pre-offer price, or accept the offer and take their chances of an EVN pump.
Or even hold EVN long term as it could be an outperformer and should be imo on nearly all metrics.
Doesn't seem so bad to me...
PXG Price at posting:
14.3¢ Sentiment: None Disclosure: Not Held
