Haha - it’s an all cash bid.
Doesn’t really matter who’s coming up with the cash from BPF shareholders perspective.
Personally just think MAQ have run out of growth options themselves and need a cheap bolt-on.
It’s a pretty small industry - don’t really know why they’re going hostile other than desperation.
If they really want it - just go on-market and start buying up stock before somoone else lobs an offer.
Ann: MAQ: Application to Takeovers Panel and Extension of Offer, page-8
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