Had a quick look at the bidders statement. MLX is bidding $86m worth of inflated scrip to buy a company with net assets of $284m (or $0.90/share) including $55m in cash which is majority owned and managed by Indians. Good luck convincing them.
Probably worth a punt on ABY for a higher offer. Bought into ATE under similar circumstances and made a 50% profit. Looks like the cash is the prize, particularly if the Mt Gordon sale goes through and the $41m in bonds becomes available cash.
Ann: MLX: Announces Scrip Bid for Aditya Birla Minerals Limited, page-23
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Last
48.0¢ |
Change
-0.015(3.03%) |
Mkt cap ! $430.3M | |||
| Open | High | Low | Value | Volume |
| 48.0¢ | 49.0¢ | 47.5¢ | $1.946M | 4.036M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6428 | 47.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 48.0¢ | 318441 | 4 |
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| Last trade - 16.10pm 12/11/2024 (20 minute delay) ? |
| MLX (ASX) Chart |