Standard opening response by board of target. Even if it smells sweet at first instance and Board might be drooling over the offer, the Board obligated not to give positive response and to cover their arse, they will but put negative response etc... and also just in case it attracts other bidders.. Imagine the shit if the Board immediately jump for joy on this offer and support it, and later someone comes in with higher offer and they will get shit on their face.. They will normally get advisors into provide independent view and act on those recommendations to cover their stinking ass.
In the case of LML, isn't it kinda strange that an offer comes so close after almost a total change of Board ? I must say, this is likely a done deal.. Good luck Linconians...
LML Price at posting:
0.8¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)