Funnily enough, Gresham was Tassal's advisor, and Gresham advised RDF when RDF rejected an offer a couple of years ago. Large shareholders sacked the RDF Board and the new Board were advised this time by Greenhill Caliburn. Can Gresham get takeovers over the line? Hehe, who knows.
Current Redflex share price = $2.56. Mac Bank and Carlyle have us over a barrel with the exchange rate deal. If the AUD keeps rising, the takeover offer falls. We don't have much leeway left.
This whole takeover has been quite the dog's body. It's been a good learning experience for me, though: now I'm getting into some potential takeovers late in the game, instead of just jumping in on the news of the non-binding indicative approach rah rah.
I might jump ship before the meeting by shareholders to approve this one. It might cost me some more %, but if the RDF SP continues to fall, I wonder if there's much left in this thing anyway. Also, if shareholders don't approve it, we're back to square one. I might keep it, too. :)
Cheers, bushplum, and to all holders.
RDF Price at posting:
$2.56 Sentiment: None Disclosure: Held
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