Hi Tui
I read those comments by the 2 K's, Knox & King. Back to WCL-NHC.
NHC holds 17.67% in WCL or 78.446mil in Westside out of 445.1mil. At LB's 40c offer, this is worth $31.4 mil cash to NHC.
NHC also hold 16.3% in Dart, which had a t/o offer for ~19c (A$211m) last night from IGAS. That's a totally different story, as I was highlighting their investment strategy in this sector.
LB on the other hand has A$133.325 mil in cash. And an approval for A$98mil from ICBC bank.
Their offer for WCL is $178mil, which lets them access the loan from ICBC i.e, $98mil + $80mil of their own funds.
Hope this clears up the confusion.
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