Yes, i would have thought at least 30c cash before recommending yes. Even that would be a big sell out of the potential.
Hate to say it, but our board have already done a "beads and blankets" deal - now it's up to shareholders whether to accept or not, while the board flies a white flag of surrender.
I'm going to make a prediction, once it starts sinking in to Singapore investors that Lion might acquire CGT and all its potential in such a cheap deal, Lion shares will get bid up substantially, probably well beyond their March S1.25 high. Sadly this will just encourage more CGT shareholders to accept the offer. I doubt Lion will go away now they have a hold on their prey and the board's white flag,, but I'm hoping their bid has to become cash and much higher before succeeding.
CGT Price at posting:
14.0¢ Sentiment: None Disclosure: Held
