IMHO it's a done deal.. a change of control transaction .. a script for scrip deal that has been hammered out for months.. why did ADN suddenly jump 20% whilst MEP was managed @ 0.13 ? Because to sell the scrip for scrip they need to get it done before MEP logically starts bouncing up in tandem with ADN as it has in the past
furthemore I believe that both companies have been in discussion re this for months and would not want a offer, counter offer situation but rather a clean, win win, deal that MEP directors in principle agree to and that ADN board believe they can sell to the masses
in order to get a deal like this done they need to have support from major shareholders, directors etc etc who all come out after the announcement to say 'we recommend accepting the deal'
In a hostile T/O with an offer on the table directors would normally come straight out with 'we advise shareholders to take no action and to reject the current offer blah blah '
there will no doubt be further shenanigans but I believe ADN are on the cusp of pulling off one of the most brilliant corporate transformations in recent history .. To grow from $10M MC to $500M MC and then take out the company from which they earned into originally
Extraordinary stuff...
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