'2126' pid='75205' datel Wrote:
'kommonsents' pid='75194' datel Wrote:
'oliver.gump' pid='75189' datel Wrote:
'Palm' pid='75187' datel Wrote:Who will the replacement CEO be?There are dozens of people that are, or could become available.
The "new" IOC would be a much smaller company, it would suit an entrepeneur style of person, rather than a heirarchy dependent oligarch like Hession.
The way it looks to me is that both YES and NO votes get the terms of the XOM offer if approved in the vote for the deal in September, assuming that occurs.
The NO dissenting votes are still taken out and their shares are surrendered, but the final value they receive and when will depend the outcome of the court and reappraisal, when and if that occurs. The other scenario seems to be that XOM makes an offer to the Dissenters and they accept.
We have no way of knowing the outcome or time of it.
This all has to be factored by legal costs and time cost of money.
I do not rule out a NO Dissenting vote for my shares, but need to know more about what I am voting for, the details. It's always in the details...
I would only be interested in a "Reboot" after I have sold off my positions in IOC and can see and evaluate, with new and informed eyes, exactly what the "New IOC" really is.
In other words, I will likely sell before the vote once I am vested in any CRP, which as I understand it, would be sometime in August.
Please let me know if my understandings are incorrect. I need all the help I can get!
Kommon, you are correct, with one small addition. If there are dissenting shareholders, IOC must [very promptly] provide them (and the Court) with an offer for their shares and a written statement showing how they have arrived at fair value for ALL of IOC's assets. Such a statement by IOC will be under a court order and will open IOC up to some serious legal ramifications if they come in very low with this 'fair value' statement. A court-ordered independent appraisal only occurs if IOC is unsuccessful in negotiating a 'fair value' offer with all dissenting shareholders.
Thanks for the clarification, 2126! I am among the many here that appreciate your work at helping us to understand what is going on and what our options are.
One more question. Assuming that there is an offer to settle with the dissenting shareholders, Can they settle individually or do they have to settle as a group? Thank you.