Had a quick look at the bidders statement. MLX is bidding $86m worth of inflated scrip to buy a company with net assets of $284m (or $0.90/share) including $55m in cash which is majority owned and managed by Indians. Good luck convincing them.
Probably worth a punt on ABY for a higher offer. Bought into ATE under similar circumstances and made a 50% profit. Looks like the cash is the prize, particularly if the Mt Gordon sale goes through and the $41m in bonds becomes available cash.
Ann: MLX: Announces Scrip Bid for Aditya Birla Minerals Limited, page-23
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Last
44.0¢ |
Change
0.005(1.15%) |
Mkt cap ! $394.5M | |||
| Open | High | Low | Value | Volume |
| 43.5¢ | 44.0¢ | 42.5¢ | $635.6K | 1.470M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 45328 | 43.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 44.0¢ | 61931 | 5 |
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| Last trade - 16.10pm 09/10/2024 (20 minute delay) ? |
| MLX (ASX) Chart |