This has happened before.
I think one of them was with David Jones years ago before it was bought by the South African company. A UK business submitted some retarded takeover offer with no substance and the company had to report it to market. It was then withdrawn immediately after the shares spiked and substantial volume had gone through.
Curious thing was there were large volumes going through before the takeover offer. Could it be that this was some kind of get rich quick scheme hatched? Who knows, hopefully ASIC takes a look at this.
Ann: Revocation of Non-Binding Proposal, page-67
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Last
$2.03 |
Change
0.070(3.57%) |
Mkt cap ! $455.3M | |||
| Open | High | Low | Value | Volume |
| $1.99 | $2.15 | $1.98 | $12.27M | 5.957M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3000 | $2.03 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.05 | 134213 | 4 |
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| APX (ASX) Chart |