Red I've had a peruse of the bidders statement as well and was surprised NOT to see a paragrapgh in there that the target's directors unanimously recommend the offer.
PLT's announcement on 17 April clearly stated (in bold) "Fermiscan Directors intend to recommend that Fermiscan shareholders accept the offer"...it also went onto state..."The Directors of Fermiscan intend to unanimously recommend that Fermiscan shareholders accept the Offer, subject to their appointed Inderpendent Experts concluding that the Offer is both fair and reasonable".
Whilst this is only speculation on my behalf at the moment, IMO the IER must have come up with a recommendation that the Offer was NOT fair and reasonable...if this turns out to be the case IMO the merger has little chance of success and PLT will be forced into a capital raising fairly quickly.
I'll stick with my target price of 5c!
bidders statement released, page-6
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72.0¢ |
Change
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Mkt cap ! $126.2M | |||
| Open | High | Low | Value | Volume |
| 73.0¢ | 73.0¢ | 72.0¢ | $11.79K | 16.38K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 11132 | 72.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 73.0¢ | 7952 | 2 |
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