Teck Offer definition

Teck Offer means the offer made by Teck dated May 23, 2006 to purchase all of the outstanding Inco Shares;
Sample 1

Examples of Teck Offer in a sentence

  • Inadequate premium compared to precedent transactions The premium implied by the Teck Offer measured in virtually any manner is also substantially below average premiums offered in take-overs in both the global mining and Canadian mining sectors (as illustrated in the chart below) during the past six years.

  • UNANIMOUS RECOMMENDATION OF THE BOARD The Board believes that the Teck Offer fails to provide full value for Inco and is an attempt by Teck to acquire Inco without offering adequate consideration to Inco Shareholders.

  • ANALYSIS AND REASONS FOR THE BOARD’S CONCLUSION AND RECOMMENDATION The Board has carefully reviewed and considered the Teck Offer, with the benefit of advice from its Financial Advisors and its legal advisors.

  • Assumes 143.1 million Teck Class B Subordinate Voting Shares are issued to Inco Shareholders, based on full pro ration under the Teck Offer.

  • Inadequate premium compared to historical trading ranges The Implied Offer Price of the Teck Offer as of May 5, 2006, the last trading day prior to the announcement of Teck’s intention to make the Teck Offer, represented a premium of only 20% to the closing price for Inco Shares on the same day (the “Original Teck Premium”), which the Board believes to be an inadequate premium for control of Inco, particularly when compared to historical trading ranges of the Inco Shares.

  • The Amended Teck Offer expires at midnight (Toronto time) on August 16, 2006, unless extended or withdrawn.

  • Under the Teck Offer, Inco Shareholders would receive 0.9776 Teck Class B Subordinate Voting Shares plus Cdn.$0.05 in cash for each Inco Share held.

  • The Teck Offer Teck announced the Teck Offer on May 8, 2006 and commenced its regulatory clearance process in the United States on May 16, 2006 and in Canada on May 17, 2006.

  • Accordingly, if Inco Shareholders decide to tender sufficient Inco Shares such that the minimum tender condition of the Amended Teck Offer is satisfied at the expiry time of the Amended Teck Offer, Teck will be permitted to take-up and pay for Inco Shares under the Amended Teck Offer at that time.

  • In view of the nature of the consideration under the Teck Offer, the implied premium should be significantly higher.

Related to Teck Offer

  • Sell Offer means an offer to sell Capacity Resources in a Base Residual Auction, Incremental Auction, or Reliability Backstop Auction.

  • Permitted Offer An Offer (i) pursuant to the terms of which the offeror offers to acquire a debt obligation (including a Collateral Obligation) in exchange for consideration consisting solely of Cash in an amount equal to or greater than the full face amount of such debt obligation plus any accrued and unpaid interest and (ii) as to which the Collateral Manager has determined in its reasonable commercial judgment that the offeror has sufficient access to financing to consummate the Offer.

  • Final Offer means the offer on which a resource was dispatched by the Office of the Interconnection for a particular clock hour for the Operating Day. Final RTO Unforced Capacity Obligation:

  • Initial Offer means the initial offer of Participating Shares in a Fund as set out in the applicable Supplement;

  • Tender Offer means a takeover offer, tender offer, exchange offer, solicitation, proposal or other event by any entity or person that results in such entity or person purchasing, or otherwise obtaining or having the right to obtain, by conversion or other means, greater than 10 per cent. and less than 100 per cent. of the outstanding voting shares of the Share Company, as determined by the Determination Agent, based upon the making of filings with governmental or self-regulatory agencies or such other information as the Determination Agent deems relevant.

  • Bona Fide Offer means an actual or genuine offer which includes a specific wage or a training opportunity at a specified place when used to determine whether the parent has refused an offer of training or employment.

  • Change of Control Offer has the meaning provided in Section 4.15.

  • Offer means “proposals” in negotiation.

  • pre-emptive offer means an offer of equity securities open for acceptance for a period fixed by the Directors to holders (other than the Company) on the register on a record date fixed by the Directors of ordinary shares in proportion to their respective holdings but subject to such exclusions or other arrangements as the Directors may deem necessary or expedient in relation to treasury shares, fractional entitlements, record dates or legal, regulatory or practical problems in, or under the laws of, any territory;

  • Initial Offer Period means the period determined by the Directors during which Shares of any class are offered by the ICAV for purchase or subscription at the Initial Price.

  • Net Proceeds Offer Amount has the meaning set forth in Section 4.16.

  • Net Proceeds Offer has the meaning provided in Section 4.16.

  • Initial Offer Price means the initial price payable for a Share as specified in the relevant Supplement for each Fund.

  • Asset Sale Offer shall have the meaning specified in Section 4.14.

  • Net Proceeds Offer Trigger Date has the meaning set forth in Section 4.16.

  • Shelf Offering Notice has the meaning set forth in Section 2(d)(ii).

  • Qualifying Offer shall have the meaning set forth in Section 11(a)(ii) hereof.

  • Solicited Discounted Prepayment Offer means the irrevocable written offer by each Term Lender, substantially in the form of Exhibit O, submitted following the Administrative Agent’s receipt of a Solicited Discounted Prepayment Notice.

  • Asset Sale Offer Amount shall have the meaning specified in Section 4.14.

  • Market/Offer Price means the highest of (i) the price per share of Common Stock at which a tender or exchange offer therefor has been made, (ii) the price per share of Common Stock to be paid by any third party pursuant to an agreement with Issuer, (iii) the highest closing price for shares of Common Stock within the six-month period immediately preceding the date the Holder gives notice of the required repurchase of this Option or the Owner gives notice of the required repurchase of Option Shares, as the case may be, or (iv) in the event of a sale of all or any substantial part of Issuer's assets or deposits, the sum of the net price paid in such sale for such assets or deposits and the current market value of the remaining net assets of Issuer as determined by a nationally recognized investment banking firm selected by the Holder or the Owner, as the case may be, and reasonably acceptable to Issuer, divided by the number of shares of Common Stock of Issuer outstanding at the time of such sale. In determining the market/offer price, the value of consideration other than cash shall be determined by a nationally recognized investment banking firm selected by the Holder or Owner, as the case may be, and reasonably acceptable to Issuer.

  • Offer Shares means the Hong Kong Offer Shares and the International Offer Shares being offered at the Offer Price under the Global Offering;

  • Tender Notice means the Tender Notice set out in Part 1 of this TenderDocument;

  • Borrower Solicitation of Discount Range Prepayment Offers means the solicitation by any Company Party of offers for, and the corresponding acceptance by a Lender of, a voluntary prepayment of Term Loans at a specified range of discounts to par pursuant to Section 2.05(a)(v)(C).

  • Qualified Offer shall have the meaning set forth in Section 11(a)(ii) hereof.