Not sure how they can honestly say the Perseus offer isn't superior. Seemingly very similar acceptance conditions at a small price premium with an all cash offer. That all cash has got to be worth a few percent in extra premium on its own given the potential volatility in Silvercorp stock price.
Anyway Perseus are now formally in the game at least and the real bidding can commence. I've always thought that Silvercorp would be constrained in its ability to bid much higher and turn this into much of a bidding war.
I'd think that they might be able to put in one more higher offer with another 7-10 cents of cash in it. Then Perseus can finish it off in mid-high 60s.
Ann: Perseus announces intention to make takeover bid for OreCorp, page-11
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