I cannot see how it can unravel. The handsome treatment for Beppa must have come from negotiation. Those party's that they spoke to can buy at will as it not an instrument requiring notification. As I understand it even BAM can now buy. Logically IMO Beppa was treated too well and hence the current gap because any other offer would IMO be worse for Beppa
If I am reading something here than I am reading that maybe the voters of Beppa are now a shoe in that all those in the loop have disclosed sufficient to get it through.
I was initially surprised that Beppa traded as high as it did. There were many outcomes that could have made this stumble. One of which was another offer that left Beppa in play until 2012. that would have made me stop and think about paying above 30c even if its 43c outcome. No certainty`at all.
If you were going to do this deal I think you would always assume that unless there is a better offer the retail guys would vote in favour. The Instos have all bought up in the sophisticated offer so they will surely vote any BBI's they hold in favour.
IMO the time for a counter offer has just gone and in reality the spp is in place and retail investors will follow that. So whilst I would still think there are options I dont see them being realistic.
Only a small investment in Beppa
BBI Price at posting:
4.0¢ Sentiment: None Disclosure: Not Held
