if Iberdola get above 51% - they push for delisting... over 90% takeover control
UAC... stakeholder to 50%... may / may not push for delisting above 51% same story at 90%...
Really I cannot say which is better... obviously one currently has a better price...so its in the driving seat... still not enough premium for me to release my holding... but it really raises a question of what happens if we get to 51% from either party.
IMO if either get to 51%... unless the balance of shares remain widely held and opposed to delisting it is likely that IFN will leave the ASX - either owner is unlikely to keep the name if they get to 90%...
IF it is just these two bidders... if we get to $1... its going to be dragging the process out for a long time... UAC's second offer was only at the same price with no conditions... next offer - if any, will really show if they have the conviction to enter a bidding war to get over a dollar per share - we know Iberdola have a lot of cash on hand ... do UAC have a spare 100-150 million to price this bidding up???
IFN Price at posting:
92.0¢ Sentiment: Buy Disclosure: 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)