This take over deal is done and dusted, we as a retail investors cry will be unheard. Almost >16 million shares (20%) have been sold on 21 and today out of 81,245,8279. When I looked at September 2024 Top 20 shareholders record, 63% are held by institutional investors.
The CEO was looking to sell this company from last November (there is an article in AFR) and as soon as the offer was received, this deal was passed swiftly after confirming from Viburnum Funds (14.1%) and Rubric Capital owner of convertible notes. This deal is done inside closed doors, and investors were not timely informed, so until this will be challenged at Court, I don't think retail have much to say.
I have sold my portfolio, and moved on but good luck those still think there is still a drama to unfold on Wednesday announcement. I believe the management will present, negative EPS, cost recovery issues to justify this deal. When a CEO is appointed to sell a company, what else you could expect.
MYX Price at posting:
$7.21 Sentiment: None Disclosure: Not Held
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