The merger should definitely go through comfortably IMO.
DRM has already received acceptance for takeover from close to 75% shareholders. Please correct me if I am wrong, but I am not sure why a sweetened deal would be required when the vast majority of shareholders are already okay with the merger. 90% minimum acceptance was mentioned at the start but if so many MYG shareholders have seen the light and given consent for the merger, then I don't think DRM needs any more approvals to complete the transaction, and should be able to go through even with 70% approval.
Also as pointed out in earlier comments by others, holidays could be one reason for not much progress since last week. Also, the merger is definitely in the interest of MYG shareholders. A look at the share price movement of MYG and DRM over the last year shows it all. MYG started rising as soon as rumours of the merger started. It is definitely in MYG's interest to move on to the DRM ship, as DRM has so much potential on so many different metrics. So really, MYG shareholders have already received a much higher share price than pre-deal, and receive shares in a company which seems destined for a much higher valuation in the future. It is hard to see how any MYG shareholders should try to resist this deal.
All IMO, Please DYOR.
MYG Price at posting:
4.7¢ Sentiment: None Disclosure: Not Held
DRM Price at posting:
47.0¢ Sentiment: Buy Disclosure: Held
