Share price is the most 'Accurate' price for the valuation, imo.
That's why capital raising is always based on the latest share price, i.e. VWAP etc.
I recalled one ASX stock, share price was pushed down, then Chinese lodged a takeover bid at substantial premium
A takeover requires shareholder approval, premium to last closed share price is very important to obtain 'Yes' vote from the shareholders, imo.
One cent down, could potentially save $45m on the offer based on my estimates.
Running Commentary on the SP Movements., page-7575
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