Multimedia, in what way is KCN short selling Challenger? Is MEU's offer capable of acceptance in its current form? Has MEU carried out the due diligence that WPG has over the asset? Would MEU's 'offer' stand at its current level if it did complete thorough due diligence? What are the terms of the hedge fund financing that underpins the MEU now 'fully funded' offer? Is it equity (pricing?, volume?, control?, dilution? ) ... debt? (serviceability? etc etc etc) or both? There's a lot of emotionally driven commentary on this topic that seems to me entirely driven by frustration that WPG has done a good deal. Well, that's its job, isn't it?
Now I've been a shareholder of WPG off and on for a long time now and I recall WPG walking way from an optioned asset in mid 2013 (See annt 7 May 2015 - an iron ore asset, good call WPG). My point; WPG will carry out extremely thorough due diligence ... and if perchance they walk away from Challenger (and who knows what will happen) then the glaring question would be why?
Yours, with pageantry.
MEU Price at posting:
2.9¢ Sentiment: Sell Disclosure: Not Held
