Exactly this. You have to seriously hope that the suitor doesn't walk away once they've looked under the hood, because aside from the offer, the trading update was poor. Spruiking a high growth industry, whilst having to reveal they are still not growing - and pulling the old "don't worry, H2 will get us over the line".
At the least it gives recent holders a chance to get out if they wish to. As someone noted on Twitter, it feels a bit like EML releasing their Bain Capital news, right before dropping a turd on the market. I hope that's not the case here and this is a genuine buyout opportunity.
Ann: Indicative and Non-Binding Proposal and Trading Update, page-58
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Last
$1.96 |
Change
-0.030(1.51%) |
Mkt cap ! $439.6M | |||
| Open | High | Low | Value | Volume |
| $1.96 | $2.05 | $1.90 | $16.06M | 8.159M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 70913 | $1.96 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.97 | 5000 | 1 |
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| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| APX (ASX) Chart |