I agree to a certain extent Slammin but I dont think the ORR big boys are happy with either current offer. Previously SVM have specifically called out if Tim and Nick were approving of the offer but this didnt occur on the last SVM bid (no change to the previous bid)
Also why would PRU offer 55c and expect the deal to get done when we can currently get more on market. I would expect a revised bid this week and see if that gets Tim, Nick, SVM and ORR board over the line.
As it stands neither deal is getting 50% in my opinion so I think you hit the nail on the head with PRU throwing out a vastly superior offer which will satisfy SVM and everyone involved.
ORR Price at posting:
57.0¢ Sentiment: Buy Disclosure: Held
