Nasty - haven't seen anything to date about intended actions. The interesting question is will MMX 1) extend offer period, 2) upsize offer, or 3) just walk away and go it alone.
Re take up of MIS shareholders on the offer, late Friday MMX posted ASX disclosure of new shares issued relating to the MIS offer. Since gaining moderate traction before Christmas, appears to have stalled into January. Have cut and pasted details below.
Would appear that option 2 or 3 remain most viable.
19 November 2007 75,752
26 November 2007 110,509
4 December 2007 53,283
13 December 2007 1,456,782
21 December 2007 2,329,462
7 January 2008 926
18 January 2008 106
Market Wrap in AFR today (P19) suggests MMX are due to release quarterly production numbers today. So will be interesting to see if MIS and/or CHM matters have diverted real activity - lets hope not!
Good luck fellow MMXers.
Uri
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