In my opinion there are some posters on here who are actually...

In my opinion there are some posters on here who are actually working on behalf of the bidder or their broker...beware and be cynical about the posts you read. I am in at a low price and topped up recently at $0.415, but I am not selling for this meagre profit by choice.

For those who don't know the takeover laws, Minter Ellison has a good summary on line.here is a link...

https://www.minterellison.com/articles/summary-of-australian-takeover-laws

Basically, a scheme of arrangement such as this needs a minimum of 75% of eligible shareholders to support. This is only the opening gambit and I mentioned WGO in my last post, but the recent BHP offer for Oz Minerals is also relevant by way of example. The initial offer was knocked back by directors in that case and they made a higher offer. But I'm expecting a competitor to enter the fray here.

regards
DF