ORR Directors are playing this well I think. PRU effectively snookered with the Scheme being withdrawn which they would have torpedoed. They have to come back with a counter bid very soon. Expecting a counter offer from PRU as early as this week...perhaps tomorrow considering the Acceptance Offer kicks in & is capable of acceptance from Jan 3rd. I'd be surprised if SVM can match anything PRU table considering the amount of cash they are carrying and the accessibility to finance on top of that as well. For that reason I'm not expecting a large premium from here, the Directors would have to recommend virtually any cash offer that beats SVM's total 'value'. Cash will trump script esp when it's on another exchange. Feel it's only a matter of how large (or small) the premium will be
ORR Price at posting:
57.0¢ Sentiment: Buy Disclosure: Held
