With how much lithium stocks have fallen in the last few months, 25p today was the old 40p (not 33p).
Assore got their takeover offer rejected by the board, but at that point in time the directors had a choice and had no requirement to put the offer to shareholders. From google (if correct), the UK compulsory takeover threshold is 30%. Assore at going to 28.4% is really close to that. If Assore still have aspirations to takeover Atlantic, this could be their step before breaching 30% and being required to make a takeover offer that takes them over 50%.
Piedmonts interest is in getting ore from Ewoyaa and owning half the project (well now 40.5%). If Assore is planning on being the other party owning the rest of the project, doing deals with Assore is smart business.
A11 Price at posting:
39.8¢ Sentiment: Buy Disclosure: Held
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