That s what the bidding game is about, if you see buyer is desperate enough and you believe your asset worth more you pull the deal, the buyer will have to up their bid if they want it enough. As buyer you will try to start the bid as low as possible so as to test if the seller is desperate.
The reason company have not disclose the identity of the buyer is because the buyer is still out there hunting other asset and not to want to be identified that will affect their ability to bid for other asset because everyone will looking at what AZZ get and set their price up. This will also give the buyer a chance to later come back with a different bid.
Ah this s gona be interesting long process...any final deal will be the price meet in the middle of expectation of both the buyer and the seller. I m sure other buyers out there will now take notes of what is going on and might see an opportunity to jump in. In the mean while AZZ just make itself more attractive on the operational side.
As I mention before deal or no deal AZZ enterprise value still much more than its current SP performance. It is not a desperate party in the bidding game. So as long time holder you will get interesting time ahead so watch out ppl
AZZ Price at posting:
36.0¢ Sentiment: Hold Disclosure: Held
