One of the reasons for the large loan Polymet is seeking, is to 'payoff' Glencore... that would be a very good thing. I have my doubts that Glencore would want to be a majority holder, but who knows for sure.
So this would be a non-hostile takeover, correct? Poly knows that Glencore could get 51%-not like its any surprise.
Consequently, there would still be a financial package drawn up to cover the assets, outstanding shares, debt, etc-correct? There are different ways this could be done-cash or purchasing company stock options?
I guess I don't think PLM is involved in some poison pill defense at this point-I'm not a true believer that they ever intended to mine this but rather to be bought out.
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