foster stockbroking in the afr, page-10

thanks reganbaha, the three releases that would indicate BKY was keen to go ahead at $2 but the suitor not are:

the releease of 29 October 2010 where it states:

"In the event that Severstal publicly announces a takeover bid for the Company at a price of A$2.00 per share, Berkeley’s Directors would unanimously recommend that shareholders accept that offer, in the absence of a superior competing proposal"


the release of 30th December 2010

"Berkeley has received an alternative transaction proposal from Severstal and the Company will continue discussions with Severstal in relation to this proposal"

the release of 14th January 2011

"Severstal's right to subscribe for shares in Berkeley pursuant to the Subscription Rights Deed entered into by the parties - as set out in the Company’s announcements dated 29 October 2010, 10 December 2010 and 30 December 2010 – expired on 14 January 2011."