From early February till March 7 Bidders increased take over price from $4.6 till $5 but during this time global indexes dropped about 5% and IFL announced Half Year report. Bidders saw this report and saw market drop about 5% but still increased take over price from $4.6 to $5.
Now if we look at Australian market index S&P/ASX200 drop from March 7 (when bidders made last offer for $5) till this day bounce April 8, the drop is ~6.25%.
So with market drop 5% and IFL Half Yearly report bidders increased bid from $4.6 to $5 but now when market drop 6.25% bidders suddenly will decrease take over price from $5 to $4?
What I see from these numbers is that Bidders want to take over IFL and market drop not change their decision.
IFL Price at posting:
$3.76 Sentiment: Hold Disclosure: Held
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