I guess a better gauge of the incoming share price is the WGX offer. 3:11 for 251m GCY shares = 68.5m WGX shares @ $1.90 = $130m offer.
Spread that over FFR+GCY at 356m SOI = 36.5c/share. Surely this is the support short term?
Just spitballing, but if WGX keeps the offer standing, but now diluted, Deutsch Balaton win with their 5% FFR holding as well as their 23% GCY holding, so maybe they are willing to accept a lower offer. We know Delphius was happy for 4:1, maybe they settle for the lower 37c/share. Likely most FFR holders take the money and run, that is a double win, up from 10c pre merge offer to 12c on merge to another gain with WGX, so that could be an easy 25-35% of GCY+FFR votes for WGX. So WGX could have an easier run to 50% post merge but with a lower offer per share..
Ann: Westgold Takeover Offer - Board Assessment, page-78
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Last
$1.40 |
Change
0.040(2.94%) |
Mkt cap ! $1.557B | |||
| Open | High | Low | Value | Volume |
| $1.36 | $1.40 | $1.34 | $6.175M | 4.494M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 7371 | $1.39 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.40 | 210044 | 13 |
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| Last trade - 16.10pm 15/10/2024 (20 minute delay) ? |
| SPR (ASX) Chart |