williamteddy,
Yes the SP moved up but only what $0.72/share which is only a 6% premium to Ruffy's takeover offer.
Effectively Ruffy has placed a floor on the SP. When his offer expires what do you think will happen to the SP?
At the moment shareholders/market do not see a great deal of upside if the SP is only at $0.72 Vs the offer of $0.68.
I am not an expert but you take Ruffy's offer out and I can't see how the SP will stay above $0.70 and I suspect that Ruffy will continue to sweep up shares as they come down to his $0.68 or lower.
Ann: Intention to Make Takeover Bid, page-121
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85.0¢ |
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Mkt cap ! $292.6M | |||
| Open | High | Low | Value | Volume |
| 84.0¢ | 85.0¢ | 80.5¢ | $57.88K | 69.93K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2048 | 80.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 85.0¢ | 8707 | 3 |
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