Not sure there has been a rejection, the way the announcement was drafted.
If the Board has knocked back a firm offer for the take up of shares at a $1 a share it would need to CLEARLY state this to shareholders given this would be a significant transaction and at a significant premium.
It seems the wording of the announcement suggests talks have taken place but no concrete offer has been reached but that talks are still progressing with various players, and the AFR reports that COK has appointed RFC Corporate Finance to advise on a deal.
We know the company needs capital.
We know there are a lot of interested parties.
Where there is smoke there is usually fire...n
COK Price at posting:
40.0¢ Sentiment: Hold Disclosure: Held
