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Note that the BOD referred to its "fiduciary responsibilities" in the PR. I think they realize that if they tried to reject an arguably superior offer, they could be in really serious legal danger. It would also seem that competent institutional shareholders would not support an inferior offer on July 28.
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The election forms and other materials, including a 448-page MIC were filed and sent out as of today. See site.
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They have a duty to disclose in accordance with their own disclosure policy.
Acquisitions and Dispositions
significant acquisitions or dispositions of assets, property or joint venture
interests; and
acquisitions of other companies, including a take-over bid for, or merger with,
another corporation