I don't think companies are prohibited from buyin
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Posted On: 10/09/2024 7:20:14 AM
I don't think companies are prohibited from buying out OTC-traded companies. While it is true that most mutual funds can't buy shares in companies below a certain price threshold, I doubt that prevents BP from buying small companies.
A BP would however have to put such an acquisition up for a shareholder vote.
And if CYDY is worth something like $150 million on the open market, no BP company would offer anything like a buyout amount that would be acceptable to CYDY shareholders.
Even if they offered six times the value of the current float cap, that would be just a buck a share. That would be acceptable to neither the BP shareholders nor to us. We need to make some progress, raising the SP, before a buyout is possible.
A BP would however have to put such an acquisition up for a shareholder vote.
And if CYDY is worth something like $150 million on the open market, no BP company would offer anything like a buyout amount that would be acceptable to CYDY shareholders.
Even if they offered six times the value of the current float cap, that would be just a buck a share. That would be acceptable to neither the BP shareholders nor to us. We need to make some progress, raising the SP, before a buyout is possible.
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