So in relation to CBS takeover of TEN. My understanding is "they are purchasing the company" is this correct?
Because I am struggling with getting my head around the procedure. For example, If I purchase a "company" here in Australia, I also purchase its assets and liabilities. So are CBS also purchasing our shares?
I received a letter from Link Market Services Limited
For and on behalf of the Deed Administrators to inform me CBS are applying through the Supreme court to have all shares transferred over to them. Part of this correspondence included a statement part of which:- "The explanatory statement includes in independent experts report prepared by KPMG corporate finance (IER) which values the equity in TEN.
The (IER) concludes that the equity in TEN is NIL !!!!!
How can it be NIL? How can it be legal?