Examples of BMO Fairness Opinion in a sentence
This omission also renders the BMO Fairness Opinion and the conclusions derived therefrom materially misleading.
As detailed above, BMO utilized a resource certification range of 7.1 tcfe to 8.5 tcfe to generate its valuation analyses, which the Information Circular defined as “a reasonable range of outcomes.” However, this range was not reasonable when the Information Circular was filed or when the InterOil shareholder vote occurred, rendering the valuation analyses in the BMO Fairness Opinion materially misleading.
The following conclusions in the Information Circular were also materially misleading as each was based, at least in part, on the misleading BMO Fairness Opinion: (1) BMO’s conclusion that the merger consideration was fair, (2) the Board’s conclusion that the Acquisition was in the best interest of InterOil shareholders, (3) the Board’s conclusion that the merger consideration was fair, (4) and the Board’s recommendation to InterOil shareholders to vote in favor of the Acquisition.
The Board, with direction by Exxon, concluded that the merger consideration was fair and unanimously recommended the Acquisition to InterOil shareholders based, in part, on the misleading BMO Fairness Opinion.
Fairness OpinionsIn determining that the Arrangement is in the best interests of the Corporation and is fair to the Shareholders, the Board and the Special Committee considered, among other things, the NBF Fairness Opinion and the BMO Fairness Opinion.