Why would a thinking shareholders accept the offer?
Offer closed, CIMIC will be lucky to reach 60% acceptance. CIMIC wasted their shareholders money and Devine' shareholders money on banks and legal advisors, preparing and lodging documents for an increase in 10% ownership.
Agree the offer was a 'joke'. CIMIC need to increase the offer price or sell out to a fair dinkum bidder and stop wasting DVN shareholders time and money.
The way CIMIC management have handled the offer for DVN indicated that there are storm clouds ahead for CIMIC shareholders - it was a poorly thought out offer and strategy and lacked execution. CICIM have waste considerable management time on the offer for DVN with a poor outcome
DVN Price at posting:
70.0¢ Sentiment: Hold Disclosure: Held
