scheming a takeover, page-6

Britelite,
v good analysis, would agree with most of your post.

when looking at the AGAINST vote, Cooper et al was nearly all of it. clearly there was no hope if he voted against. what was MQG thinking?

as discussed an off market bid was the correct way to go - netting 82% of holders and minority holders can be dealt with - easy when you hold 80% +.

As for Cooper, one possibility is that he wants to take advantage of the depressed price and engineer his way back into the co. Assuming there are plenty of sellers, which there are, a cheap and large positiion could be had and if Cooper has 20% already, then an off market bid could easily eventuate, an he could have control in a flash.

At present prices there is not much more downside and l think $2 is a more realistic valuation in the medium term.
But l think Cooper is playing a long game here, so one would need to be a patient holder.