Examples of Alcan Shareholders in a sentence
March 20, 2000 Dear Alcan Shareholders, Alcan's 1999 Annual Report discusses the proposed three-way merger between Alcan, Pechiney and algroup (provisionally called A.P.A.) and its status as of February 10, 2000.
During this potentially lengthy delay, Alcan Shareholders are unable to earn a rate of return on the cash portion of the consideration.
The conditions of the Alcoa Offer also lead to significant uncertainties as to the timing and the ultimate outcome of the offer, imposing significant value risk on Alcan Shareholders for which they are not adequately compensated under the terms of the Alcoa Offer.
The Board believes that the Alcoa Offer fails to compensate Alcan Shareholders for the value of Alcan’s extremely attractive asset base, technology, strategic capabilities and growth prospects, particularly at a time when favourable aluminum market fundamentals are expected to persist for the foreseeable future.
The offer for Alcan (as the same may be varied or extended in accordance with applicable law) is being made exclusively by means of, and subject to the terms and conditions set out in, the offer and takeover bid circular delivered to Alcan and filed with Canadian provincial securities regulators and the United States Securities and Exchange Commission and mailed to Alcan Shareholders.
E-3 Based upon and subject to the foregoing, we are of the opinion as of the date hereof that the proposed Distribution is fair, from a financial point of view, to the Alcan Shareholders.
Alcan Shareholders will not receive the consideration provided for under the Alcoa Offer until the offer is completed, which completion is currently targeted by Alcoa for no earlier than the end of 2007.
As of the date of the announcement of the Alcoa Offer, the cash component of the Alcoa Offer represented 80% of the total consideration payable to Alcan Shareholders.
Notwithstanding any prior approvals by the Court or by Alcan Shareholders, the board of directors of Alcan may decide not to proceed with the Arrangement and to revoke the Arrangement resolution adopted at the Meeting at any time prior to the issuance of the Certificate of Arrangement, without further approval of the Court or the Alcan Shareholders.
As a result, Alcan Shareholders holding Alcan shares in Canadian dollars will be exposed to exchange rate fluctuations that will impact the value of the Alcoa Offer when denominated in Canadian dollars.