RG’s $0.84 bid for PACT appears like it will be unsuccessful from a takeover point of view
However RG has managed to buy about another 37% of shares at bargain basement price which he wouldn’t have been able to do otherwise so from this perspective it’s been a great success. Maybe this was his primary intention all along
I think RG will just leave the $0.84 bid run until it must expire in September and try and acquire as many shares at $0.84 as he can
After the compulsory 6 month wait following expiry of the offer I wonder what he will do?
If RG makes a new takeover offer the bid price he will have to negotiate with the larger holders will likely be huge if he has any hope of them accepting. I don’t think RG has much of a history of making generous offers
I’m wondering if there is any alternate way that RG can take over PACT without making a generous takeover bid? If RG just buys shares at market price under the 3% per 6 month creep rule can he achieve compulsory acquisition of PACT in this way?
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77.0¢ |
Change
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Mkt cap ! $265.1M |
Open | High | Low | Value | Volume |
77.0¢ | 77.0¢ | 77.0¢ | $2.305K | 2.993K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 6127 | 77.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
77.5¢ | 190 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 6127 | 0.770 |
3 | 15720 | 0.765 |
2 | 70319 | 0.760 |
1 | 10000 | 0.750 |
1 | 15000 | 0.730 |
Price($) | Vol. | No. |
---|---|---|
0.780 | 400 | 1 |
0.800 | 8625 | 1 |
0.840 | 28068 | 3 |
0.845 | 38265 | 12 |
0.850 | 3425 | 3 |
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