The response - no doubt crafted by Goldman Sachs - is quite clever. It rejects the bid, but opens up Genex to competitive bids by third parties as well as Skip. It essentially announces Genex is up for auction. So if you are wanting to be a long term shareholder, perhaps not the response you wanted to see.
I have noted before that I think the target price is 34c, or at least a negotiation of performance rights to be issued to management at sub 34c (very likely). After all, a 34c bid is only +27% on the current bid when you factor the debt in to the enterprise value. Surely Goldman Sachs are worth 27%?
GNX Price at posting:
21.5¢ Sentiment: Buy Disclosure: Held
