$5 does only equal $4, after all!
Quote:
Originally Posted by
Marilyn Munroe
The board is meeting tomorrow(01/09/2014) to consider the independent advisers report, adopt the target company statement , their recommendation to shareholders, and approve the dividend which forms part of the takeover offer.
Released at the close of trading today
"The Board of Lyttelton Port of Christchurch (LPC) met today to consider the Independent Adviser's Report prepared by Northington Partners on the merits of the Offer by Christchurch City Holdings Limited (CCHL) and to finalise the Target Company Statement and Directors' recommendation to shareholders in respect of the Offer."
"The Board has unanimously resolved to recommend to shareholders that they accept the Offer."
"The Board has also resolved to pay a fully imputed special dividend of $0.20 cents per share on 18 September 2014."
SNOOPY
PS Shouldn't only the independent directors be advising on this takeover offer?