"Metallica surmises that it is for this reason that BDO did not assess the terms of the merger as “fair”notwithstanding that, even on this basis, there is still considerable overlap in the respective valuationranges of the two companies."
What company executives being taken over ( merging ) would " surmise " the reason the offer was considered unfair.
The BDO assessment is critical to shareholder transparency and I would have thought an unfair assessment should have sent alarm bells ringing for further explanation.
At the very least they should have quantified to shareholders why they recommend a merger deemed unfair.
Perhaps they also "surmised" the haul road was ready to go!
surmise/səˈmʌɪz/verb1.suppose that something is true without having evidence to confirm it."he surmised that something must be wrong"synonyms:guess, conjecture, suspect, deduce, infer, come to the conclusion, conclude, theorize, speculate, glean, divine;Morenoun1.a supposition that something may be true, even though there is no evidence to confirm it."Charles was glad to have his surmise confirmed"
Ann: Independent Expert confirms merger is Reasonable, page-8
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