I totally agree - apart from the diminished IO price - I see total benefit in this - and IMO it will go ahead. BCI very close now to the required 90% total - and, if they choose, they can extend cut-off date out even further to get there - or even declare the offer now unconditional. Of course the big boys in the big end of town have bottomless depth pockets - and can twirl this around - with shorting, and other rich men's games - making killings whilst all this is resolving -
but some predict an IO price recovery sooner rather than later - I think, and agree, this IS (or will be) a win-win situation. Just not the faster one most of us hoped for, when this was first announced
I have always found IOH very upfront, and clear, whenever I spoke to them. I trust they are being totally fair - and scupulous. Mr. Stokes not getting any younger - maybe he just wanted out? Which was to BCI's benefit - as we will see, further on downtrack than we hoped, but still to our advantages, I predict.
If I had bottomless pockets - I would be buying up BCI - in heaps. Not investment advice. Just totally what I would do now - if I could.My opinion, only!.
But yes, big shorters are making a packet. Money makes money - does it ever!.
