re: Ann: IGO: IGO Takeover of JML - Investor ... DY20,
No IGO isn't deliberately depressing it's sp, it is simply the market saying IGO is paying too much for shares that might be otherwise worth something like 50 cents in todays market, and more importantly the market accepting the transfer of (dodgy) wealth from IGO holders to JML accepters.
Put simply, you couldn't have a great deal for JML holders, and NOT have IGO sp drop significantly. This (post GFC) market does not add huge synergy benefits upfront (even if they do eventually materialise).
JML holders who do not want to receive "dodgy" IGO shares might like to consider selling into the market, ie 77 cents, and moving one, as otherwise they are very probably doing to be locked into a minority position in a subsidiary of a "dodgy" company.
Personally I just can't see the JML assets adding 30% to the value of IGO.
EL
Disclosure: LT holder of IGO.
Defn of LT : since 2004.
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Last
$5.66 |
Change
-0.060(1.05%) |
Mkt cap ! $4.286B | |||
| Open | High | Low | Value | Volume |
| $5.70 | $5.70 | $5.50 | $18.23M | 3.250M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 6610 | $5.62 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.66 | 46875 | 3 |
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| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| IGO (ASX) Chart |