Yep, I agree, however, what tends to happen is that one party with intially strike a deal with the major shareholder. Once the major shareholder is happy with the offer, it is then made to the market. Knowing they already have an acceptance from the major shareholder (obviously conditions such as 'subject to no higher offer' and 'minimum acceptances'), they know they are not wasting their time.
Good for ESG shareholders as HGO would really demand a premium. However, I still do not think they would need to bother taking over HGO in order to secure ESG.
ESG Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
