As explained again and again, by the exclusivity clause in the sales agreement with Optus other bidders have been locked out from the data room, hence cannot do any due dilligence on AYS and would need to table an offer without such. It's true that some parties had access to the data room in the past but remember that by the sale of the energy business just 4.5 weeks prior to entering into the agreement with Optus there has been a material change which a potential bidder would need to investigate to assess legal risks and the financial impact. Bidding without proper due dilligence would not only create liability risks for the acquiring entity towards its shareholders but also for its board members personally. Hence this transaction is supposed to happen on an unlevel playing field and it looks like it is designed to keep other bidders out. Be smart and vote against! Optus can't afford and won't allow losing 1.1m customers.
AYS Price at posting:
74.0¢ Sentiment: Buy Disclosure: Held