This is going to be very interesting on Monday at the take-over panels. The decision will lay precedence over a number of issues and could possibly lead to those fund managers blocking the deal by challenging it in court!
The acceptance that pushes it over the 50% was late and news were released that the bid had failed and APA is walking away, therefore all the 46% acceptance in essence were effectively terminated!
IF the take-over panels allow the late acceptance, will it provide a time frame for the original 46% to change their mind? Bear in mind, even if the take-over panels allow the late acceptance, APA still has the 70% minimum acceptance condition in place and until there is no certainty it will get 70% or APA will remove this condition.
Will QAN trading be suspended pending this decision?
deadline was not met, page-2
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Last
$6.09 |
Change
0.060(1.00%) |
Mkt cap ! $9.923B | |||
| Open | High | Low | Value | Volume |
| $6.10 | $6.11 | $6.04 | $25.10M | 4.146M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 8587 | $6.07 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.09 | 127451 | 10 |
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| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| QAN (ASX) Chart |