I think the comment that Andrew Cole made in his initial media presentation where he states they have been keen on AVB for 3 years has been taken
waaayyyy out of context.
I don't like the price on offer but I am certain the plan six months ago was not to put a bow on it and sell to OZL. I also was gutted to see the initial offer come through. I said to a mate on the day that I'd had 7 figure losses previously that felt better than this 'victory'.
I don't believe the reason for the sale has been made public. Maybe they can't make it public. I don't think it coincidental that the share price started going down March 2017 and I'd be inclined to look more closely at what had changed within AVB in the period leading up to that date.
I do think the board were out of their depth. I know some of their senior management staff were sus. Happy to play that one out in a court room if any of them want to try it on.
I also have no doubt OZL will get more than 50% and possibly a lot more.
When I make a decision about my personal holdings, which I will not make until the last minute possible for me, I will have one priority only, the biggest bank account balance possible. Whether I think that will be achieved by holding, selling on market or accepting offer.
If people think they have been legally 'wronged' there are courses of action that can be taken. More on that at a later date.
When I have finally decided what I will do for myself I will post about it just for disclosures sake. Not as a recommendation to be followed
PS AVB will not be the last company targeted for a takeover and my money is on OZL being on a few radars. I also thing there is more than one reason OZL's share price could be doing the unexpected and going up both prior to and post offer. Good luck to all whatever their decisions.
