Plenty of media around today regarding a block of compulsory acquisition. From my seat this leaves NST with two options 1. proceed with uncertainty and potentially acquire less than 90% of EAR, if they acquire more than 75% they may pass a special resolution to take the company private with the minority shareholders or 2. increase the bid to something more palatable for everyone.
I feel it's very unlikely the bid will be withdrawn, strategically the mill is too important and NST need to take advantage of this high gold price now and the bid seem light on conditions, meaning they don't have many excuses to wiggle out for the deal.
Don't give your shares away, hold tight for an increased offer
EAR Price at posting:
32.5¢ Sentiment: Buy Disclosure: Held
