As someone who didn't want this takeover from day 1 I have to admit that stalling before 50% (partly from the UCL response which itself can't have been unexpected) is quite disappointing. The shared BON/MAK directors should've been sure of easily passing 50% before launching the takeover.
I'd still rather they pulled the bid and left BON to 'enjoy' the 3.5 billion shares a merged BON/UCL entails as per the UCL bidder's document.
been over a week, page-36
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