Ann: OZ Minerals Rejects Indicative Proposal from BHP, page-140

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casajack

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25/10/22

12:05

Post #: 64380088
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Originally posted by NigelK: ↑

I believe that Mike Henry wants to be seen as a winner (as does Andrew Cole, naturally). Mike, particularly, as he carries the scars of the attempted takeover of Noront Resources. He has also backed himself into a corner, somewhat, with his comments in London last week. I am guessing that Mike would see $30/share as a loss and perhaps something like $27.50/ share with an optional share offer (perhaps approx. 1:1.35), as a victory.

This could be a little tricky for Andrew Cole seeing as the 52 week high for OZL was just below $30/share and it would be difficult to accept anything less.

Just my thoughts. 'Would appreciate yours.

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I had thought the price might be $25/share cash + 1 BHP share for every 15-20 OZL. The risk now is what price in 1/2 years as compared to where its trading now & was before takeover.

I think the mistake won't be on Henry so much if there isn't a transaction, but AC for not engaging (we don't really know if there are further discussions about opening talks yet).

OZL Price at posting: $24.55 Sentiment: Hold Disclosure: Not Held
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Ann: OZ Minerals Rejects Indicative Proposal from BHP, page-140

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