Given that there is no benefit to getting in before the deadline, which has been extended a few times now, and once you are in, you can not get out, it would seem logical to remain status quo until things are clearer.
55% is a controlling interest, but not immune to potentially being diluted down below the controlling interest level, and also means that almost half of profits and future Bullzeye dividends would not be realised by EMR.. Clearly the EMR board see the Bullzeye in-ground assests as being worth many times the current SP (otherwise why buy it), and so will not want to give all that profit away.
so emr will be looking for a much stronger position than that.When the TOV outcome is clearer, with potentially a new round of bidder/target info, and a deadline that is actually a deadline, I envisage >70% being achievable, and if that appears to be happening, perhaps most of the remainder will fall into line. It then becomes possible in the future to dilute any remaining holdouts to the point that they have <10% and compulsory purchase occurs.
Or maybe something entirely different will develop !
EMR Price at posting:
$1.14 Sentiment: None Disclosure: Not Held
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