Holy cow boys and girls. Those that just accept whatever crap that Minor offer, well experience tells us that they miss out.
When the 35c low ball offer come in some sold up for 33c thinking that a bird in the hand .....
When the 52c offer came in some sold at 50.5c thinking it probably won't get any better ....
Now on Friday we see news that our board is currently working on a deal with anyother party which may result in a better deal. Got to love this stock, even if just for entertainment value alone.
Minor can't sack the board until the EGM so despite my absurd ideas, it look like the board may be hell bent on screwing Minor right back before the end of the month.
Remember that the board has the right to issue upto 15% of the IC without shareholder approval. Doing so would drop Minors stake below 50%. If a superior offer came in at say 60c then the new bidder would have the majority and Minor would either have to up their bid again or accept that they are a minority shareholder. Very interesting development.
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