Smith, Chief Executive Officer, commented: "The evidence overwhelmingly suggests that the Kellogg Group wants control of MFC without paying a premium for control
The appraisal should be updated in order to incorporate a premium for control
(if a 50% stake is sold) and recent industry trends, according to the company.
It does not adequately reflect the value of Alcan's extremely attractive assets, strategic capabilities and growth prospects, does not offer an appropriate premium for control
of Alcan, and is highly conditional and uncertain.
Because a bidder is likely to pay a premium for control
, SCi chief executive Jane Cavanagh is in line for a substantial windfall from a takeover deal.
Finally, the court noted that the premium for control
would be "substantially greater"
By offering shareholders no premium for control
of the company, the Realty Income merger offers shareholders no compensation for these non organic growth prospects.
We have therefore decided to pay a large premium for control
of Lions Gate and are hereby increasing the offer price to $7.
reflect a suitable premium for control
of BAA's unique assets.
As agreed by the parties, the total price to be paid in this transaction will include the economic value of the common shares plus a premium for control
480p is not a serious offer: it takes no account of the sector rerating, the inherent value of W&DB, our strong recent and current trading performance, or our future potential, and it certainly does not offer shareholders an adequate premium for control
Clearly, the majority of our shareholders agree with the Board's consistent conclusion that Yamana's unsolicited offer does not reflect an adequate premium for control
of Meridian Gold.
Mr Allwood repeated his view that neither bid represented a sufficient premium for control