Of course sharehlders won't willingly approve the D4E swap ( the chinese investors were agitating for a reason ) but willinly has nothing to do with it. It is a gun to head scenario of approve it or else we wind you up by demanding immediate repayment of the debt that is due!
All that remains is a shareholder vote on the matter but this is some time off yet. This is the key - a superior deal has to be offered to the board/banks before the vote or any other relevant deadline.
Now me way well get one as there is greenmail opportunity here given the remaining discount to true value that remains.
Hopefully the recent buying is more than just the chinese buying to vote NO! A no vote without a superior offer to the banks could be very nasty indeed. So far we have only had a naive and stupid offer from the chinese - sorry but its true. Maybe they can come back with a proper offer next time around but time is running out.
Note this is more relevant to CNP but anyone wanting to take over CER will need to takeover CNP first so this interest from bigger players in CNP is very relevant to CER.
I'd say surprise(s) of some sort are very possible - driven by the upcoming shareholder vote deadline.
Blastoff
CER Price at posting:
17.0¢ Sentiment: LT Buy Disclosure: Held
