i dont beleive wap will have much play in any takeover of mel except perhaps from the first to make an offer. there is in my veiw a likelihood of competative tension[s].i dont beleive the first offeror would be best served by a low offer.the offeror would know any low offer will be trumped. i beleive there is a significant chance that the first offer will be for full value[ie not a blue sky valuation]. on the other hand a low bid could serve to get the juices flowing as an auction war gets going.
MEL Price at posting:
43.5¢ Sentiment: Buy Disclosure: Held
