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.
API Price at posting:
$1.33 Sentiment: Buy Disclosure: Not Held
