Yep forcing the issue which is good I think. Directors will hold their shares for at 14 days after offer opens to see if a competing bid arrives (17 Jan). To me that is the date to look for.
Break fee is small.
PRU can easily lob at the current level in all cash which would obviously "reasonably be expected to become a superior proposal"
ORR can proceed with PRU if they receive an offer that: "After having taken advice from its financial and external legal advisers, that the Competing Proposal is, or could reasonably be expected to become, a Superior Proposal"
ORR Price at posting:
57.5¢ Sentiment: None Disclosure: Held
