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Hi FootmaxInitially, I was very confident that WES would make a...

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Old Fisherman

140 Posts.

44

12/09/21

14:45

Post #: 56002434
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Originally posted by Footmax: ↑

You are right - if not for COVID-19, the SP would probably be closer to the $2 mark now.

Clearly, Westfarmers saw a golden opportunity to snap up API before lock downs are abandoned as the primary weapon against COVID-19.

Having said that, was it a mistake for the board to knock back Westfarmers offer at $1.40? Would the SP still rise under Westfarmers ownership?

Academic of course - and Westfarmers have not made a second bid at this stage. Maybe they won't if they can't get a really low price for the acquisition.

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Hi Footmax

Initially, I was very confident that WES would make a second bid. Given that WES would like to use API as the starting step of a health division, I still think a second bid price is the most likely outcome. However, my level of confidence has decreased - your statement, "Maybe they won't if they can't get a really low price for the acquisition.", might be the outcome.

Regards

Old Fisherman

API Price at posting: $1.33 Sentiment: Hold Disclosure: Held
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