I just received a legal view on our situation..... but of course DYOR.
Company De-Listing
"Not advisable to sell your shares to original company as price has already crashed on takeover news
So let BBIG take over and company be delisted.
Continue with your shareholding.
As you say the company has impressive deposits, so it would be worth to stay put in this company.
Only flipside will be, as company would get delisted, you wont have much liquidity for selling your shares, as was available on the exchange.
But you can always offer your shares to the acquirer at your buy price + margin.
The acquirer would want to takeover entire shareholding. But the purchase price that it may offer would be at its discretion, such that it may be below your entry price. In that case you can retain your shares and let them approach you with a buyback offer.
Alternatively you can write to the regulator informing how the takeover would be disadvantageous to minority shareholders and seek directions to original and acquirer company. As both companies have some directors in common, the regulator will take cognizance, suspecting insider dealings between the two companies, to detriment of minority."
