Well takeover prices are often based on a percentage above the average price for the preceding 3 -6 months, hence takeover agencies try to accumulate as much stock as possible with out pushing the price up to much. If I am correct, we are likely to see the price get pushed back down leading up to a formal TO offer which could be as low as 25c which will be 25% above the average. Personally I wouldnt be happy with anything sub 35c, but if they hold 40% of the stock, it wont be hard to make up the remaining 11% in order to push a low ball offer through.
IMA Price at posting:
23.5¢ Sentiment: Buy Disclosure: Held
