Absolutely and MC needs to reject FEX offer that will allow FEX to improve its offer to CZR shareholders to equivalent of 31 cents minimum or it lapses.
So that is simply 1 FEX plus 6 cents cash for 1 CZR and a superior offer & FEX then have ROBE MESA & CROYDEN.
FEX could offer CZR say $10m cash plus shares for ROBE MESA if ROBE MESA is indeed the priority & CZR can get on with CROYDEN.
IMHO the value of ROBE MESA (~ $104m) and CROYDEN (yet to he fully determined) far exceed current FEX scrip offer and FEX will be able to offset tax losses in CZR to some extent.
AIMHO/DYOR/GLTAH.
CZR Price at posting:
24.5¢ Sentiment: Hold Disclosure: Held
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