After knocking back Tinkler's indicative and incomplete offer - presumably the Board have told him what price they would actively consider. Regardless of daily SP movements the goal posts have been set so conventional premium for control %'s are irrelevant (he could argue that the price was $3.70s before the rumours started that he was interested). Board have been rather strong on holding the valuation lines previously and are under no pressure to do anything.
Being short $500m on a $5b deal doesnt look good for a deal being done anytime soon.
Probably his game plan all along , ego + his knowledge of the business, a typical double up Tinkler bet.
If he takes out WHC, picks the bottom of the coal market and gets financed through the next few years production ramp up - he will be a real Billionaire while I will be happy to take my $5 per share now.
$$$, page-16
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Last
$6.95 |
Change
0.140(2.06%) |
Mkt cap ! $5.814B | |||
| Open | High | Low | Value | Volume |
| $6.78 | $6.96 | $6.76 | $26.35M | 3.823M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3000 | $6.94 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.95 | 25578 | 8 |
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| Last trade - 16.10pm 01/11/2024 (20 minute delay) ? |
| WHC (ASX) Chart |