Just viewed the announcement. In my opinion the price is still not high enough in order to satisfy shareholders to reach the 75% voting power in order for the takeover to be successful.
Although a lot better than 11.5 it's still well short of my expectations.
Now that we have the independent expert report confirmed price I can see counter offers coming through potentially....
It's interesting to see that Pfizer are still willing to pay nearly $0.15 per share if the confirmatory study is not within the specified range and around 21 cents per share if it is still within the ballpark range. Given that the pilot study was being tested alongside the Gold Standard PCR which already has near 100% accuracy I can't see how it is possible for the double blind results to be skewered.
I'm actually quite happy that the scheme timetable has now been pushed back with the meeting to be held around mid August, particularly in this depressed market!!
As I stated above I still don't think this will get up, yes some more may have been sucked in and may accept the offer but nowhere near enough to get to that 75% IMO... Still so many investors underwater even at 21 cents including Fidelity International one of the largest substantial holders who purchased on Market in the 30s and 40s...
If the results of ResApp Confirmatory Study and independent
statistician review come back as positive ( on par with the ResApp's pilot study) I can see the price going much, much higher up because then we are very likely to obtain FDA clearance and this would mean the core products would also likely gain FDA clearance, not to mention sleep check as well which I believe will come through as FDA cleared very shortly IMO..
Nice try Pfizer!! You haven't got MY yes vote, BIG NO FROM ME!!
Cheers
Red bar
RAP Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
