Agree on both points which is partly why I have been steering clear of buying until the CR is done or until it wrecks the SP.
I can see the CR as both a blessing and a curse for them though.
A blessing because it means they can tell hanlong to go and jump unless they offer more for another 12 months.
A curse because it tells everyone that the deal is by no means done, and that it may not ever be. But if you read their statements about the offer, and with all the insider trading busienss you knew that anyway.
In regards to how they are running the CR, its how they have run previous ones, so it is not a big shock. They may drag out the CR a while hoping for a better price, or they may do it soon after the AGM. I would lean towards the latter.
BMN Price at posting:
35.0¢ Sentiment: None Disclosure: Not Held
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