I agree, this may cause some short term price weakness, but I would prefer to be holding this one myself for the longer term.
I would be surprised if many really expected an offer from Cape. Given that they couldnt give a reasonable offer when the SP was under 90c. With the SP recently hovering around the 1.10 mark and the increased value of the Aus dollar, a reasonable would have been much more expensive than earlier.
Hence I think the SP had little takeover premium built in. Once the short term traders are out and holders are focusing on the long term value, I think we will see the price quickly rebound.
PCG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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