Ann: Perseus announces intention to make takeover bid for OreCorp, page-20

Any suggestions on what PRU will do now given the offer is lower than the market price and ORR board have favoured the SVM bid?

I am a bit puzzled by the first PRU offer of 55c all cash, knowing that it would not get the deal done. As this is in Africa and early works are underway, I expected a fast track takeover approach in order to keep the construction momentum and keep the locals and government onside however this has not played out that way.

I think PRU will eventually get it done but will it be SVM or PRU who revise their offer first and by how much?

Clearly no one is signing across to SVM and you are better off taking the market price rather than the PRU offer, so who blinks first.

Hopefully it plays out quick as im getting bored.