The US fund wanted in early and they knew the potential and the interest in the technology as they approached PSY to provide funds.
Key decision makers had to travel or were in "transit" for this deal. So it shows keeness on their behalf.
They may or may not do something ie increase offer or buy on market. But their due diligence on PSYs technology will see them do something.
As the longer they leave it, the doors will be open for other fund managers or majors to invest into PSY taking a substantial holding.
In my opinion their plan was to take a substantial shareholding in PSY (even from the US because they would have had many other options but instead chose PSY in Australia).
Their due dilligence and market connections in the US would have indicated that soon a MEMS major will look to partner with PSY to commercialise technology.
Which would have yielded the US Funds a major major profit.
Well done management awesome that you put ur shareholders ahead.
The US fund wanted in early and they knew the potential and the...
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