...simply opportunistic, but even at 70c, they couldn't find it compelling to proceed with the bid.
....we ought to know that there will be occasional periods when a dog stock rises on some short term optimism (which is baseless) and market participants start believing it could have big upside when comparing against its previous highs. Innodata withdraws Appen bid
Tess Bennett
New Jersey-based Innodata has withdrawn its $154 million bid for ASX-listed Appen, a day after the company was forced to reveal it was the subject of a confidential takeover offer.
“Innodata informed Appen that it was withdrawing the indicative proposal on the basis that it was intended to remain confidential,” the company announced on Thursday morning.
The 70¢ a share buyout proposal was only disclosed following queries from the ASX, which stopped the trading of Aspen shares on Tuesday after they spiked from 87¢ to $1.11 without the company having made any announcement.
