Agreed. Bega eventhough they are out of the race ..still truly holds the key for anyone who wishes to complete the successful takeover. I wonder what would happen if Saputo announces it's closing its bid two weeks from friday-After that it's concluded...it's over.
This may be the climax & turning point for this whole deal. Would anyone risk waiting till the end of February to see what happens with MG & potentially risk losing out or would they take the confirmed $9.. and possibly more given the ratio setforth.
With Fonterra looking over Bega's shoulders, that might be a weight to great for them to pass over. As I remember, Bega is now on the outlook for other companies to takeover, and if their opportunity to grab another company cannot wait, then they may make a deal sooner than later.
In anycase, after Bega makes it's call.... whatever way they choose to go.. This whole takeover that's been lasting for months will be concluded very rapidly.
It sure has been entertaining!
"Yes, but Saputo's offers above $9.00 are also conditional, and without the cooperation of the other major shareholders (who hold 45% between them) Saputo's chances of getting to 50% even are pretty slim.
Before I decide what to do, I would still like to know BGA's intentions. BGA's aim must be to maximise the value of their stake, and which way they go will influence the rest of us."
WCB Price at posting:
$9.23 Sentiment: Hold Disclosure: Not Held
