Some of the changes being looked at by ASIC/ASX (according to this weeks 'Australian' online version) include that instant disclosure should also occur as soon as another party shows an interest in a company that already has an offer from another party and which is under consideration (if that makes sense). i.e. if OBL and FMG were negotiating and a 'super major' contacted OBL to say they were interested, the public, via the ASX, should be informed immediately.
Seems many companies are saying this is not fair, as it may undermine the current deal under discussion with the original party. Can't see how myself? - it might actually strengthen the position of OBL (in this particular case) i.e. "make up your mind and stop stuffing us around because we also have Company 'X' interested in this deal" .........but then, I have never been involved in such discussions. So what would I know?
The above is a personal opinion. DYOR.
OBL Price at posting:
3.4¢ Sentiment: LT Buy Disclosure: Held
