This is looking increasingly ugly to me.
XCD was priced at 0.5c/share prior to the 88e offer, that was its true market value, which has been inflated by the 88e offer. Restated, without the offer it would still be worth 0.5c
The market did not add any lasting value to 88e on the news of the take over offer, the implication being the market saw no value add from the synergy
XCD shareholders will get ~ 1.7 billion shares that they can sell and break even at a divisor of the original 0.5c
With the offer at 2.4 88e shares for one XCD, that values 88e in their hands at 0.2c/share
Ann: 88E AND XCD TO MERGE VIA RECOMMENDED TAKEOVER OFFER, page-3
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Last
0.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $57.86M | |||
| Open | High | Low | Value | Volume |
| 0.2¢ | 0.2¢ | 0.2¢ | $55.76K | 27.88M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 340 | 940634314 | 0.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.2¢ | 6254489 | 4 |
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| Last trade - 16.10pm 07/11/2024 (20 minute delay) ? |
| 88E (ASX) Chart |