What's wrong? They overpaid and the market knows it. Not a single broker upgrade covering the stock that I'm aware of.
Not sure how far the share price has to fall before it sinks in they cut a bad deal. Tax loss selling into EOFY and a huge overhang of the CP (anyone up for burning more capital by purchasing thru' the CR when you can get shares at a 5% discount to it on market today?) to retail will see ongoing share price pressure. Share price is down 20% in a couple a weeks and yet there's a sizeable shareholder cheer squad here for the transaction and the company officers. As you've noticed the market is telling you they cut a crap deal and IGO cut a great one- the IGO share price has been on a tear since the transaction.
RRL Price at posting:
$2.63 Sentiment: Sell Disclosure: Held
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