As I understand it, under the takeover provisions, WGX will need to wait for a period of 4 months, should they wish to submit another bid for GCY which is less than the consideration offered previously. Needless to say, I think they will be happy to sit this out, see how the FFR integrations goes, understand if what was promised will be delivered and pick it up for a much lower value in March 2022.
I feel for GCY holders. The Board and their highly paid advisors have let them down.
GCY Fate and a likely outcome, page-20
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Last
$1.05 |
Change
0.070(7.14%) |
Mkt cap ! $1.162B | |||
| Open | High | Low | Value | Volume |
| $1.00 | $1.07 | $1.00 | $8.386M | 8.107M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2800 | $1.05 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.05 | 15204 | 2 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| SPR (ASX) Chart |