The takeover bid is looking increasingly like the worst capitulation by a target company in recent times. Why would you agree a mediocre price when all metrics are moving in your favour.
The directors and management of WSA should be highly embarrassed by the financial results released today because it shows their lack of foresight to endorse a bid when the commodity they trade in is going from strength to strength on the back of a long-term bull market in nickel driven by the sustainable energy revolution.
At the very least they should have negotiated a scrip alternative which would have given shareholders an opportunity to participate in the overall sectors rise .
Add to My Watchlist
What is My Watchlist?