In that Dennison is paying only in Stock, the price is far from generous, and fairness should be considered in that historically  JNR is an offspring/ puppet of Dennison.  When junior mining companies find themselves in the acquistion sights of a major with which it has an incestuous relationship,  this type of scenario arises.  Look at the valuation Newmont paid for Fronteer for example. It was a lot of money but it looked funny.

    The press release reads like there is a big premium being paid when in effect Dennison stock is at its low and JNR had conveniently recently slipped to .05.   I cannot help but wonder if this deal has been looked at for a long time and the situations conveniently eased into a temporary low price for JNR which is paid for in percentage of a  Dennison share.  

   On the other hand,  for those who bought at the lows,   who would want to kill a deal with a company like Dennison that is strong financially and a knowledgable player.  i dont think anything can be done to get Dennison to raise the price, and I would not want to kill the deal.      Can anyone explain how it the recent JNR dilution would not have been expected to lower the JNR share price, which would ease the way for Dennison to pay  less than it would have otherwise.   You could argue that JNR was hanging by a thread and could have failed.  However if there was anyone who knew JNR's true value it was Dennison and if they did not want to lose it, they got it when the price was at the cheapest possible.   

   As bad as things are for Uranium and the finances of JNR, the company had huge land holdings and very very qualified management.   I would have to call Dennison a predatory white knight.   The same could be said of many institutions in our society with feet a lot worse than clay.  On a scale of  1-10 as a predator with a one being worse,   Dennison in this case is a  5.75.  :)  

  Toll Cross Securities who did the very recent private placement sure makes out good on this.  Must be quite prescient investors.  I dont know if that deal will go thru or not in view of the takeover.  The  impact on the short term shareprice will not change.   Perhaps Denison was planning to swoop in and having JNR with cash to stay afloat longer, forced Denison's hand because they wanted JNR.  Any way you cut it the offer was not generous and can hardly be applauded.


  Canada Moose