This is how it seems to me too. The directors have not only recommended 'Accept' they've explicitly said they've all accepted at the first opportunity.
If the deal doesn't go through surely Bradken is left with a board who have effectively said "The best thing for this company is that this board no longer controls it". But they'll still be controlling it. I can't see how the share price could do anything other than decrease under that scenario.
At the offer price, or today's price, I stand to gain about 90%. If I hold on I can't see that being sustained if the offer doesn't go through. And even though mining has been making a comeback plenty of mining engineers are not, so I see little likelihood of BKN bouncing up again if they tank if this deal fails.
It's looking more and more appealing to me to accept or sell on market.
BKN Price at posting:
$3.24 Sentiment: Sell Disclosure: Held
