The issue of a takeover is that this is essentially a binary proposition: it's either a game changing success or a complete failure.
If the former it will be worth squillions, if the latter, completely worthless. There's no world where FBR has a place but not a very big one. Once CRH have decided they want 300 Hx then they will soon decide they want 1000 Hx.
So how do you price a takeover in such a circumstance? If you're CRH and you're pretty sure it's going to be worth squillions then any takeover offer means you've signalled to the market (both incumbent holders and competing buyers) that it's a winner. You're not going to be able to offer 1 per cent of squillions you'll need to offer 20-30% of squillions - maybe 10-20% if they think FBR holders are impatient.
FBR General Discussion, page-4969
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Last
3.2¢ |
Change
0.002(6.67%) |
Mkt cap ! $142.1M | |||
| Open | High | Low | Value | Volume |
| 3.1¢ | 3.4¢ | 3.0¢ | $443.3K | 13.90M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 1719806 | 3.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.2¢ | 1013372 | 1 |
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| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| FBR (ASX) Chart |