My gut feeling is that 25c wont get through and we'll get a 30c bid which will be accepted. As for the reasons that SEH are doing this? I think it's one of three things:
1) burnout as Harper and Ridgeway have been involved in this company for well over 10 years and I think Corrie works over 100hrs/wk so it is easier to sell off the company rather than start with new management which would kill the share price and take a long time for them to build the relationships with the Chinese again
2) or putting pressure on the Chinese SOE's to get these ODP's committed to. The SOE's are more likely to want to work with SEH than Lone Star who will only be interested in selling the company off to another party as soon as they can. I get the feeling that the SOE's actually like the experience and skills that the Aussie's bring in and appear co-operative, supportive and well funded.
3) funding issues from CNEML -this really could delay the ramp up significantly over the next year. I hope that the pilot plant which is opening next quarter wont be affected.
I'm not convinced the reasons given by Corrie are the full story.
