GRZ will now drop some with me on board. OK, i’ll sell and take the loss…such is the way of the market
This from G&M a few seconds ago. Thank you reader MP for passing this one
Court halts Rusoro takeover bid for Gold Reserve
ANDY HOFFMAN
Tuesday, February 10, 2009
An Ontario judge has halted a hostile takeover bid
by Rusoro Mining Ltd. for rival Gold Reserve Inc.,
ruling that the offer is tainted because Rusoro had
access to confidential information from a financial adviser who acted for
both companies.
Justice Peter Cumming granted an interlocutory injunction restraining
Vancouver-based Rusoro from proceeding with an all-stock offer for Gold
Reserve, pending the outcome of a trial.
Rusoro’s financial adviser on the offer, Endeavour Financial, is prohibited
from acting on behalf of Rusoro regarding a potential takeover until the
trial concludes.
Lawyers for Gold Reserve had argued that Rusoro had an unfair advantage over
other potential bidders because Endeavour possessed confidential information
it acquired when it was an adviser etc etc here