Good Lord. I'm no NZC apologist but one thing that won't happen is administration. That's just being silly.
If the China deal fails and they don't have another buyer lined up (which is in theory of course possible though I suspect unlikely), they will raise. It would need to be a pretty cheap raise, I'd think. The genuine pre bid sp was about 16c, Cu and Co have fallen since then, and there will be people who were betting on a completed bid exiting and pushing the sp down...so my guess is it might trade around 12-13c, and a raise would thus need to be at say 10c. That's quite a long way from 26.5c.
NZC Price at posting:
26.5¢ Sentiment: None Disclosure: Not Held
