Could enough vote NO-Dissent to actually kill the whole deal?

[bdahl385]

I have not seen comments about his possiblity.  If several large instituional holders believe the arguement that JFT has stated, that a dissent vote could result in a substantially higher payout, what if this kills the whole merger deal?   Do those voting No-Dissent want as their top priority: 1) to have the merger pass and then hopefully get a larger payout once the courts / companies decide on the new compensation offer, or 2) kill the deal but have dissent as a backup in case it does pass?

Thoughts?

[weaselpuppy]

The institutions had this opportunity once already and did not do so. What has changed? Nothing, or nearly so.

[jft310]

My opinion this deal passes with about 80 percent yes.
The no votes have more dissenters this time is my guess

[bdahl385]

My opinion this deal passes with about 80 percent yes. The no votes have more dissenters this time is my guess

It just doesn't make sense that the large holders would not vote No-Dissent with their 100's of thousand to several million shares.  You have repeatedly laid out that the current offer is $20 to $30 a share  below what you believe you will get from a settlement thru the courts of IOC's true asset value that Paradigm Capital put forth in their analysis.   You think they would just accept the $45 per share conversion into XOM stock instead of a much higher potential cash settlement?  They have had the time to study the first court decision and make the best decision that these sophisticated investors and money managers could make.  I guess we find out soon enough how it plays out.

[jft310]

The Paradigm Capital work was never released , all we have is the courts comments on the report .
Mutual Fund Managers work for someone else not themselves . The structure is to listen to the legal department for guidance which relies on the Fairness Opinion . Policy is to vote with the fairness opinion . Thus the funds will vote yes just like last time . In my opinion this will greatly upset some shareholders if the dissent award is quite a bit higher than the Exxon price . The mutual funds have insurance and following the fairness opinion has a good track record . In this case in my opinion the mutual funds are creating a future liability voting yes but alas that's why they have insurance. Rarely like in the Dell Computer suit the shareholders win and the dissenters win and that happens here is my guess . This has the look of another Dell Computer type case . Did the new fairness opinion put a value on all Interoil assets ????Yes or no ???