My understanding is if AMER want to take an initial position bigger than 19.9% in NTL they will need to get an exemption from the NZ Takeovers panel. After that if they increase their position to 90% through on market purchases they could compulsorily acquire the whole company if desired. (DYOR - This needs confirming)
In the current environment an offer valuing NTL between 50 and 100 million wouldn't make me fall off my seat with surprise... This would offer a 5-Disallowed return from the capital raise price..
Even if the deal isn't accepted it is going to create a lot of interest and a re rating from the current market cap which is sitting not that far above current cash holdings!!
10 Day Countdown / Amer Deal, page-3
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Last
1.6¢ |
Change
0.000(0.00%) |
Mkt cap ! $9.000M | |||
| Open | High | Low | Value | Volume |
| 1.6¢ | 1.7¢ | 1.6¢ | $17.19K | 1.072M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 846000 | 1.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.7¢ | 544119 | 3 |
View Market Depth
| Last trade - 11.00am 09/08/2024 (20 minute delay) ? |
| NTL (ASX) Chart |