Key points (from my perspective):
- If a dividend is paid then the dividend amount comes off the $9 buy-out price.
- Maximum dividend is $0.25.
- The no-shop, no-talk, no-due-diligence clause means there's no chance of a competing bid.
- Subject to expert's opinion
- Subject to regulatory approval
I don't like these deals by scheme of arrangement. The negotiations are kept secret. When the deal is announced all the restraints are instantly in place that prevent anybody from counter-bidding. The market has no opportunity to compete for the takeover. I don't understand why ASIC permits these things to be used this way. They are designed as a last-ditch measure for companies facing receivership and liquidation.
Ann: CSR enters into Scheme Implementation Deed with Saint-Gobain, page-4
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Last
$8.90 |
Change
-0.020(0.22%) |
Mkt cap ! $4.248B | |||
| Open | High | Low | Value | Volume |
| $8.94 | $8.94 | $8.90 | $26.82M | 3.012M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 172779 | $8.90 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.92 | 350 | 4 |
View Market Depth
| Last trade - 16.10pm 31/05/2024 (20 minute delay) ? |
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Last
$8.92 |
Change
-0.020 ( 0.02 %) |
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| Open | High | Low | Volume | ||
| $8.92 | $8.93 | $8.91 | 458717 | ||
| Last updated 15.59pm 31/05/2024 ? | |||||
| CSR (ASX) Chart |