I’ve been in heaps of companies that have been taken over.
Were the scheme to be approved, we get 12 AVL shares for each TMT share, whether they’re at 3c or $3 a share. There’s no “locked in price as of September” or anything similar.
Unfortunately this also means we have no downside protection if AVL absolutely tanks, which is why a combined cash + script offer makes more sense.
the difference between the 2 stock prices falls down to
a) risk the scheme isn’t approved
b) people may seek returns elsewhere given the 3-4 month timeline
if it’s within a few weeks before, expect the gap between share prices to close quick smart (I.e Oz Minerals when taken over)
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