Why do they keep extending the T/O offer date ? -----------------------------------------------
GGG are extending the TO for several reasons imo.
1. Because they can and they have time on there side 2. Because GGG are well funded 3. AZX are not running low on cash 4. AZX can not (I believe) atm issue more than 10% of shares case without shareholder approval 5. Shareholder approval to significantly dilute at a discount when compared to GGG's offer might be hard to achieve. 6. I believe there are some tax advantages to AZX holders if the offer is accepted at the extended date 7. GGG haven't yet got enough takers, or are waiting to get even more 8. To give AZX and GGG time to see what sculdugery Baker Steel have played in this episode 9. If we are lucky it is possible it's because merger talks are constructive and this extention gives AZX room to talk while keeping the TO offer open.
Temu
AZX Price at posting:
57.8¢ Sentiment: Hold Disclosure: Not Held
