Looks like the rumours of TO (obviously within the markets) and expected offer price will not match the expectations of the market and momentum traders who have driven the SP well beyond what was being offered. Probably some short covering as well in that last surge.
Innodata is a pretty small fry. MC of $205M USD not much more than the newly inflated APX MC of $236M AUD. That's not where the negotiations started. APX SP was 35c ie $80M MC with an offer of $160M. They don't have deep pockets to pay whatever Board think its worth. maybe there is someone else out there but definitely not these guys. Plus their SP might drop hard tonight based on news, making a higher offer even more unlikely.
So, a shorter dream, I expect tomorrow.
Ann: Response to ASX Price Query, page-30
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Last
50.0¢ |
Change
-0.020(3.85%) |
Mkt cap ! $111.5M | |||
| Open | High | Low | Value | Volume |
| 52.5¢ | 54.5¢ | 50.0¢ | $1.002M | 1.931M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 209254 | 50.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 51.0¢ | 1630 | 1 |
View Market Depth
| Last trade - 16.10pm 17/07/2024 (20 minute delay) ? |
| APX (ASX) Chart |