When Creasy and associates hold over 50 percent of the stock, the free float is a lot less than the 250m or so on issue.
5m was decent and I suspect 10m or so would be the limit on any big day- there just won't be too many more sellers at some point while this process plays out in coming months.
It's an easy buy at this level if comfortable this deal on the table will get approvals as over time it should track towards the mid or high 30's imo.
Basically a free shot at a very possible higher bid too. That's Creasy's brilliance- we have a suitor now giving us a premium and the party who might really want it now has to pay up over that mark if they want to play.
CZR Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
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