tth - another quick comment - PLT does not actually have any choice as to whether to proceed with the bid.
If you announce a bid you LEGALLY HAVE to follow through with a bidder's statement.
The only way to then pull the bid and not proceed is to point to a condition of the bid that has been breached. from recollection, there are very few conditions to the PLT offer so this would not be easy to do.
from FER's perspective. . . . key issue is the recommendation. Having announced intention to recommend subject to independent expert's report. . . . it would be unusual to see them not recommend unless the independent expert assessed the bid as not being fair & reasonable.
However, FER board does retain discretion just to change its mind. . . . although ultimately it is up to shareholders to either accept or not in any event.
either way . . . .. this merger thing has lost momentum!!!
what a joke, page-14
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Last
66.5¢ |
Change
-0.020(2.92%) |
Mkt cap ! $116.5M | |||
| Open | High | Low | Value | Volume |
| 68.0¢ | 68.0¢ | 65.0¢ | $11.13K | 16.77K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4054 | 66.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 68.0¢ | 8476 | 1 |
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| Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
| PLT (ASX) Chart |