This is what should happen.....
Second court approval is delayed as ASIC should not approved based on in not being a "no objection". It does not even have to be proven at this court meeting to stop the proceedings. However, grounds for this is that the offer from WGX is superior to FFR and under the code shareholders are entitled to have reasonable time to assess and decide on the competing bid. In addition, it is not possible for a SID to not have a termination clause as the Corporations Act supersedes any deal made.
Fortune cookie time for price... the offer is open until 29/11/2021. Over the month as SH vote in favour of the deal with WGX. GCY share price will rise inline with WGX share price rise... I'm forecasting 58 cents in the next 1-2 weeks with a possibility of hitting 68 cents end of Nov.
Several ducks need to alight for this to happen, but I see it as a possible scenario.
Ann: Westgold Takeover Offer - Board Assessment, page-41
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$1.29 |
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Mkt cap ! $1.429B | |||
| Open | High | Low | Value | Volume |
| $1.28 | $1.31 | $1.27 | $6.108M | 4.747M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 17537 | $1.28 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.29 | 39997 | 1 |
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