If you are wondering why the share price is not being run up - remember Corporations Act requires the takeover price to exceed the highest price paid in the lead up period - which could reduce the perceived premium being paid to shareholders and the bid could be less successful. An acquirer likes to get as close to 19.9 at the lowest price before making an offer well above that level.
Keenly watching for announcements over the next few days.
Interesting previous Chairman now reappointed. Perhaps Board / management did not see eye to eye with the new large shareholder?
I contnue to hold.
BDL Price at posting:
0.0¢ Sentiment: None Disclosure: Held
