Geez, yet another post tying to rebut my position and failing miserably with misrepresentation and misquoting. I never said there was an obscure legal precedent, I said there may be. And it will not be obscure if it controls tender offers. But also note that there are always legal wiggle issues that determine when filings might be required.
Please read the following with particularity and comprehension as i'm tired of being misquoted and misrepresented.
My statement was that we do not know how many shares GE has towards its ownership goal now or at the end of the offer which is only about one week from now as some brokers close off the tender on 10/12 such as Scott. You guys attempt to refute that statement by simply citing generic legal language. But there is legal wiggle room.
The operative wiggle room set forth in the legalese is that filing must be done when binding agreements are entered into and when ownership changes. This language does not include tendered shares as they are revocable. But with the lack of a counter bid and the weak pps, revocation is becoming less likely especially if Traders theory is correct and the pps will collapse after the tender. In that case most tendered shares and more this last week will be tendered and such tender will not be revoked. It may well be that informal agreements between ge and shareholders which are contingent on GE reaching 90% and/or can be revoked if a higher bid comes in are not reportable as not binding or ownership changes till GE decides to accept or deny
If you continue to disagree, show me why tendered shares and informally committed contingent shares are subject to the filing rules as they are not binding or ownership changes and may well be very contingent. . My bet, given the weakness of the pps and risk is that GE will get at least 50%. Then do they accept or reject????? Why would I waste time researching Swedish case law as it is under a week and GE will get what shares it gets and then decide if it wants to accept or reject the tendered shares if less than 90%
More errors in your post. Case law does not necessarily invalidate the law, it interprets it. Might determine what invokes the binding and ownership provisions of the law and whether a given event invokes the filing rules or my exceptions might apply. That 15% will not happen until and unless ge accepts tendered and contingent shares and we will not know that till expiration . RIGHT??? No one will submit stock till the end so long as the pps is above 285. But if you believe traders collapse theory, if the pps remains weak, many will be tendered at the end. I rest my case.
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