The way I see it, the board would have been happy to get a deal on the table and would also have had a reasonable enough view of the horizon that the business was pregnant with a positive earnings upgrade. So, Cyan have shown their hand with a live deal and MRM has in effect countered the deal with the trading update.
Given where the stock is trading and that all and sundry are now aware that the company is still in a cyclical upswing, it is getting less and less likely they can get the deal over the line at $2.60. They need to go north of $3.
The way I see it, the board would have been happy to get a deal...
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 (20min delay)
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Last
$2.71 |
Change
-0.040(1.45%) |
Mkt cap ! $1.027B | |||
| Open | High | Low | Value | Volume |
| $2.72 | $2.74 | $2.70 | $4.820M | 1.774M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 1412750 | $2.70 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.72 | 6000 | 1 |
View Market Depth
| Last trade - 16.10pm 08/05/2024 (20 minute delay) ? |
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Last
$2.72 |
Change
-0.040 ( 1.41 %) |
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| Open | High | Low | Volume | ||
| $2.70 | $2.73 | $2.70 | 1045670 | ||
| Last updated 15.59pm 08/05/2024 ? | |||||
| MRM (ASX) Chart |