That is not correct. My understanding is that until the bid goes unconditional the bidder is unable to operate legally in the mkt. However, it has been known that at times the bidder will have a quiet chat with certain funds that are deemed to be friendly and will have them accumulate on their behalf. What will hopefully happen is as follows - once the Chinese party gets the sign off from the powers in Beijing they will alter the terms of the bid to allow unconditionality to kick in at 50.1% rather than the 90% level that is currently one of the requirements. At this stage they will be deluged with stock and the whole game will be over within a matter of a day or 2.
Robbo
- Forums
- ASX - By Stock
- IRN
- why isn't grm buying on market?
why isn't grm buying on market?, page-3
-
- There are more pages in this discussion • 9 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add IRN (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
SBW
SHEKEL BRAINWEIGH LTD
Dani Nadri, Country Manager Australia
Dani Nadri
Country Manager Australia
SPONSORED BY The Market Online