News: AGL takeover of Mosaic Oil deemed fair , page-5

goodaye Gobris, -good to hear someone else's views.

i have never got really involved with the Court process wrt Scheme documents.
I know that the proponents of the Scheme have to get Court approval before they are allowed to send out the docs to s/h.
after the s/h vote on the Scheme, the proponents then have to go back to the Court to get eprmission for the Scheme to be effected.
One of the things the Court looks at in the final Court appearnace is how the voting was conducted, and what was the voting results.

In the initial Court appearnace the Court would look at the Scheme docs to see if they were proper, and those docs would include the IER.

The fact that ASIC ans ASX may not have any comment on the docs is really not the issue - because no one has alerted them to an issue.

i think ASIC may have a look at the docs before court approval- and if no asic COMPLAINT, THEN cOURT would not be alerted either.

FYI- just googled this re ASIC role:
http://www.asic.gov.au/asic/pdflib.nsf/LookupByFileName/rg60.pdf/$file/rg60.pdf

the fact that MOS did not disclose the critical info to s/h and the market is the very real issue.
and that fact goes to the heart of the matter.
frankly, I cannot think of a more relevant issue in the process of a takeover!

this non-disclosure affects the market and the price, and the IER would have based its decision on F&Reasonable with regard to m/price. And of course m/price was ramped down because of that non-disclosure.
Also, I will bet you that the Directors Recommendation will also be partly based or justified on the basis that the Offer price is so far above the m/price !!

anyway, I am not going to sspend time and money doing the job that our directors were supposed to do, when no other BIG shareholders give a hoot.

all i can say, is if this Scheme gets voted down, I will scream for the blood of the current directors!
we should all make sure they are thrown out.

You are absolutely correct in saying that the Hedge funds hold the key - and i have no idea how they will vote.usually they vote YES.

good luck
cheers