This is prompted by David Tweed's hostile takeover attempt on Clime Capital, but I'm really asking a general question. The offer document includes a condition that accepting the offer means that you are assigning all your rights as a shareholder to the bidder immediately. IOW, you're giving the bidder the right to vote your shares before settlement.
Have any of you guys encountered a condition like this before, or do you have any comment?
BTW, I'm not asking for opinions about whether or not to accept the offer. Even if I thought I understood it, which I don't, the decision is a no brainer: David Tweed = Reject
There's a brief article about the bid here http://www.smh.com.au/news/business/...198138398.html