Been away for the weekend but just caught up with the news, or lack of it. Lets get this in context. NGF started this take over atempt with 6.6%, over a month later they are at 8.1%, they have managed to secure just 1.5%.
That is really p1ss poor progress!
I do agree and expect them to pick up a few more of the less resilient stock holders the closer we get to the cut off point, but I'd guess maybe 10 - 11%. This is a country mile short of where they would want to be at this stage and upping the offer by 3 or 4 cents isn't going to shake out enough of the stronger hands to get over just 20% imo either.
As the Chairmans statement says, there is more value in staying independant and keeping the upside for ourselves than giving it away to Norton. Hold or keep buying, Norton will definitely be upping the offer imo.
Been away for the weekend but just caught up with the news, or...
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