wmo,
An acquisition can take the form of a purchase of the stock or other equity interests of the CDCH and MDMN properties, or the acquisition of all or a percentage of its assets.
Giving CDCH and MDMN a large cash payment would form a joint venture allowing the major to acquire a large percentage of CDCH and MDMN's assets. This would also allow the major to mine the property dividing up the profits based on the percentage purchased or acquired.
Types of acquisition
Share purchases - in a share purchase the buyer buys the shares of CDCH and MDMN from the shareholders. The buyer will take on the company with all its assets and liabilities.
Asset purchases - in an asset purchase the buyer buys the assets of CDCH and MDMN. In simplest form a total buy out would leave CDCH and MDMN as an empty shell, and the cash it receives from the acquisition is then paid back to its shareholders by dividend or through liquidation.
I don't believe we have the simplest form of a asset purchase. I believe the acquistion Price spoke of will be for what I described above in the 2nd paragraph. I also believe JJ and the BOD wanted this to be where the majors carried all costs related to the drill program and possibly all mining in the future. What the BOD of each company does with the large cash payments such as share buybacks or dividends paid to shareholders is yet to be determined.
I would also assume the major will want to do a substantial drill program on the property which may lead to a future total buy out or all of CDCH and MDMN's assets.
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