Sold my 100000 ROC and bought back HZN yesterday. The merger deal will go forward: no doubt - simply "Alea iacta est". It is not just business: the boards have been working side by side for long. Actually, I believe, it is HZN which might be approached by real takeover offers considering its huge development potential: now, it is too late, though.
The "non-binding, indicative" take-over proposal is just another sicking attempt, that "clown" has put on to stop the merger. I am not surprised, ROC management did not call a Trading Halt and clearly downplayed the "offer" in the announcement.
ROC value is now "mature" - HZN is highly discounted. At current price levels, if you buy HZN, you buy merged ROC at 0.5 ... Even in the worst scenario (no merger), HZN has got a much bigger upside potential (its sp lowest broker valuation is 0.47) while ROC has reached its pick (CBA gives a 0.6 target price for ROC).
Hence - SELL ROC, BUY HZN.
DYOR.
HZN Price at posting:
35.5¢ Sentiment: None Disclosure: Not Held
ROC Price at posting:
60.7¢ Sentiment: None Disclosure: Not Held
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