Regarding the timing of UCL's offer I don't think they should be given more than a few days to make their offer. Their "intention to make an offer" announcement would've already slowed down the BON acceptances and it's unreasonable that they would be allowed to string things along just because MAKs offer has been extended.
I'd take your point about giving them a reasonable time if they'd made their statement just after the MAK offer. They had plenty of time to think about it and have tried to slow down the MAK offer before it gets to 50% without formally making an offer.
Anyway let's see what they come up with in the next 2 days. I note that their statement didn't actually say they would come up with an offer this week, just to update details of their intentions.
UCL Price at posting:
0.7¢ Sentiment: None Disclosure: Not Held
