There is a much closer to home. Sargon owned 20% of SEQ. They went to purchase One Vue on a similar buy now pay later tranche deal.
The difference with this deal is that SEQ own all of the shares in Morrison until all of the money is paid. That wasn't the case with Sargon plus Sargon had started integrating the One Vue business into its own - unscrambling that was almost impossible.
There isn't any integration to occur here as NQ has no business at the moment - so if the deal does get unwound its business as usual for the staff and clients but SEQ has an extra $3.15m in cash.
Seems to me that there are long time sellers that have been looking to exit today I expect the market to re-rate this over the next week or so.
SEQ Price at posting:
54.0¢ Sentiment: Buy Disclosure: Held
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