Well post was just a touch early.
The Takeovers panel has now made the ruling and has declared the Shougang share transaction as unacceptable and has put in orders yesterday that the share purchase cannot proceed.
What does this mean for MGX? Well for me it now means a takeover is more likely due to the fact that the Chinese were aiming to get control but not outright ownership, this has now been squashed. So the only way to get what they want is for them to make a takeover bid.
I personally hope this does not occurr as I see more value long term for shareholders.
Interested in other people views and what they believe will occurr.
Will be interesting to see what happens witht the share price.
takeovers panel, page-2
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Last
32.0¢ |
Change
-0.005(1.54%) |
Mkt cap ! $389.5M | |||
| Open | High | Low | Value | Volume |
| 33.0¢ | 33.0¢ | 32.0¢ | $282.5K | 869.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 17 | 247847 | 32.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 32.5¢ | 35276 | 4 |
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| Last trade - 16.10pm 09/10/2024 (20 minute delay) ? |
| MGX (ASX) Chart |