I don't see the Crescent takeover as a big deal. Either it completes now or later - there is no particular urgency.
Stone was hoping to bluff a better price out of Focus. Fair enough, but now that Focus have demonstrated that they are not going to lose their nerve, the takeover is an irrelevant sideshow.
There's nothing for Stone to gain by continuing, and plenty to lose. The fat lady has sung, but Stone's hearing aid must be malfunctioning.
FML Price at posting:
7.0¢ Sentiment: Buy Disclosure: Held
