It was a bad deal but necessary at the time. If the deal got worse due to EQRs inability to meet the original requirements I feel QIC is taking the piss attempting to get a better deal due to delays. As a long term holder of EQR I am more than happy to wait for a better deal if that is what is required. Time will tell if QIC will regret getting greedy or not. 2 parts that I did not like in the original deal was:
a) minimum $5m cash holding..... we want to spend money not lock it up and pay interest on it. b) the option conversion to cash. This could have been a huge hit to EQR in certain future situations. Definitely happy that is not going to occur.
Where are you getting your info for " It looks like QIC does not look too happy with the snub?"?
as to anyone exiting... I would love to know the reasons why. I for one are looking for spare funds to increase my holding at sub 5c.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)