Examples of SCAI Offer in a sentence
Further, the New Arrangement can be effected on a basis that does not require New Fording to pay a break fee or cause such break fee to effectively increase the indebtedness of New Fording, as would have been the case under the SCAI Offer.
RBC also advised that the consideration under the New Arrangement is superior to both the consideration under the SCAI Offer and the consideration under the Enhanced Arrangement, from a financial perspective.
Reserve estimates for the Line Creek mine and the Cheviot mine project as set forth above were derived from information presented in the notice of variation dated December 16, 2002 filed by SCAI in respect of the amended SCAI Offer.
The combination of the coal businesses of Teck, Fording and the Luscar/ CONSOL Joint Ventures is expected to provide greater synergies in operations, marketing and overhead than those available under the SCAI Offer or the Enhanced Arrangement.
The cash per Common Share available to Shareholders (assuming Shareholders other than OTPP elect to receive the maximum amount of cash available) exceeds that offered under the SCAI Offer by at least $1.75 per Common Share and exceeds the cash available under the Enhanced Arrangement (given OTPP’s public statement that it would elect to receive cash under that proposal) by approximately $6 per Common Share.
OTPP and Sherritt will withdraw the SCAI Offer and return any Common Shares tendered to the SCAI Offer.
The combination of the cash flow, the synergies and the reserves and resources represented by the Fording Contributed Assets (including the Luscar Contributed Assets) and the Teck Contributed Assets will result in stronger per Unit cash flows as compared to the cash flows expected by Fording to have been available under the SCAI Offer.
The minimum pro rated cash amount of $21.75 (assuming Shareholders other than OTPP elect to receive the maximum amount of cash available) approaches the trading price of the Common Shares during the period preceding the announcement of the initial SCAI Offer and the announcement of the initial Arrangement.