Somers strike me as people that will keep extending the offer and eventually increase it by a cent or so. The arbitragers then will be forced to sell into them as they wouldn't want to be left stuck in an illiquid stock. Somers will not achieve total control but they will gain an extra 20%-30%, and then appoint more directors.
Unless of course another company sees value and comes up with a higher bid...
Ann: Somers Limited on-market takeover bid for Thorn Group Limit, page-14
-
- There are more pages in this discussion • 14 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)