One would have thought that 20 cents would have been rejected pretty quickly and negotiations would have already moved on from here, as previously stated this is still not even in the published targeted range.
Be in no doubt Armour and major shareholders will have a tipping point as to what they perceive to be fair value for the company, as they should and it will be incumbent on the Chinese billionaire to negotiate as close to this price if he wishes to stop the farm in agreement with AEP and gain control.
He has shown he is prepared to shift his position already with the increased offer which demonstrates his keen desire for Armour, its now a question on how far he is prepared to go.
The problem he has is that the clock is ticking with the upcoming vote approaching and he now has limited time.
Now watching with increased interest.
AJQ Price at posting:
18.0¢ Sentiment: None Disclosure: Held
