"it's not the final price, you always get the low ball first, then us stubborn holders will vote no and then they'll increase the offer another 10%. It has probably already been discussed at the board level."
It would seem that in this case Igas are unlikely to make a higher offer as our board have indicated they accept the offer and are recommending us lemmings go along with them. The deal they have signed up to (and it sounds like they had a hand in drawing up) doesn't allow for other offers.
Considering that New Hope and GPE took control of the board with votes for only 36.9% of the total Dart shares on issue and only 20.8% against, it sounds like it would be an uphill battle to get enough votes to defeat them.
What chance the independent expert's opinion will be in favour of shareholders?
DTE Price at posting:
12.5¢ Sentiment: None Disclosure: Held
