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Actually the price gets cheaper by the day. When the deal was...

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01/10/14

10:45

Post #: 14055479
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Originally posted by nigelnz ↑

What are the chances that BCI won't reach the 90% minimum acceptance level? Or is it a given that the takeover will now proceed?

Personally I think the takeover will be good for the long-term success of BCI (even if the purchase price seems a bit steep). However there seems to be such negative sentiment around concerning the deal, I imagine the shareprice would rebound considerably if the deal was not to proceed.

Thoughts?

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Actually the price gets cheaper by the day.

When the deal was first announced the implied offer was $1.49 (0.44 share) +$0.10 cash = $1.59 or $256.5mil implied offer.

Assigning current SP of $1.55 = $0.68 + $0.10 = $0.78 or $126mil implied offer.

Now I am starting to think the some of this slide may be related to getting the book value of this deal as low as possible.

IOH Price at posting: 78.0¢ Sentiment: None Disclosure: Unspecified

BCI Price at posting: $1.56 Sentiment: Hold Disclosure: Not Held
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