who knows where we stand, page-3

Are people getting a bit excited here?

Management put in an offer for a company that clearly has a strategic benefit to the organisation. They got gazumped at the last minute by a significant amount, which says their first offer would have been a good one for shareholders. They've had what a week now to do some financial modelling and work out whether a counter offer and for how much would still be in shareholders best interests. As a shareholder I want them to this before they walk away from the deal.

I tend to agree with others on the profit annoucementl but if a coutner offer is to be premised on cash and equity in a new venture or IBA itself, they were worried about punters dumping the stock, which they have to dilute the deal. They shouldn't have done it never the less.