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Home Special Situations GMTN – reverse split

GMTN – reverse split
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5:05 pm
October 22, 2009


Jae Jun

Admin

posts 1336
4

Im no expert in how the litigations pan out but unless the board isn't ripping the shareholders off like VXGN, the deal usually goes through.

The only exception being that board are likely to change their minds real easily. So a quick background check on what they did previously is a good idea.

Don't need to know all the fluff they put up in their bio's but a google search should bring up info on them.

4:54 pm
October 22, 2009


Shonen

New York

Member

posts 15
3

Thanks for sharing the information, once there's a definitive date in place.. should make it more interesting. Jae, any insight into how typical litigation in these situations turn out? I've just started looking at merger arb situations and a lot of the companies I search had various law firms looking on shareholder behalf whether the board acted in a fiduciary duty. It's making me think that it's quite common.

I did find this when looking up information -

"Under Minnesota law, Gander Mountain's board may amend its articles of incorporation to conduct the stock splits without the approval of the company's shareholders, therefore it is not seeking the approval of the going-private transaction from our shareholders."

http://www.huntingnet.com/news…..ews_id=750

12:48 pm
October 22, 2009


Jae Jun

Admin

posts 1336
2

wow 30,000??

The size makes it interesting.

5:14 am
October 22, 2009


Fredro

Member

posts 8
1

GMTN, Gander Mountain Company has a going private 1-30,000 reverse split.

That means if you own under 30,000 shares, the company is offering to buy them for $5.15

Right now GMTN is trading around $5.01.

Here is the SEC filing: http://sec.gov/Archives/edgar/…..sc13e3.htm

There is also some investigation going on too where shareholders want book value for the shares:

http://www.reuters.com/article…..BW20091021
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