After reading more on the topic, it was all over, red rover, for Fosun, as the Pallinghurst offer became wholly unconditional, after the Pallinghurst shareholder vote.
That effectively means that the remaining Gem shareholders either accept the Pallinghurst deal or do their dough.
Not a thing Fosun could do, as they just didn't have sufficient Gem shareholder support even though they put in a superior bid,....moneywise.
Now,......hopefully Pallinghurst will be totally occupied sorting out GEM, and Fosun will focus on something else, and we will be left alone to continue on to October, and our first auction.
Fosun and a few other major Chinese firms are under investigation by Chinese regulators for being ''overly capitalistic,'' in their investment decisions, and for their debt levels.
MUS Price at posting:
4.1¢ Sentiment: Buy Disclosure: Held
