re: Ann: CQT: Variation of Takeover Bid - Inc... Hi Plough. CQT will plug the short term cash component gain ad nauseam.
As you intimate, still below the HSK offer using a HSK share price undervalued on fundamentals (imo).
They neglect to highlight the upside NQM shareholders would be giving away. Interest in Pajingo would reduce from 60% to 12% on a full CQT takeover all that upside transferring to existing CQT holders. Shhhsh.
CQT really want control of Pajingo, by getting control or 50% of NQM.
HSK too only need 50% of NQM to fully protect their 40% holding in Pajingo.
The protection of that 40% investment will be of absolute importance to HSK. The current Pajingo partners have a similar mindset and a trustworthy relationship. On the other hand, I believe HSK would be very unhappy to have a minority interest with CQT in charge.
Expecting the games and half truths to go on for some time.
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