As Richard mentioned in a previous post, if RG fails to reach 90% and compulsory acquisition with his current bid by it’s September compulsory expiry date, then he faces a whole new set of hurdles if he wants to make a new takeover bid. Any new takeover price will be decided by Manipur and User123 and maybe the other individual - It won’t be RG’s decision to make
After RG’s scare tactics were reported by Manipur I think RG’s only hope with the current offer is to keep it open until September and hope enough shareholders might suddenly need the money and sell their shares to him. But I think there’s no hope of this happening. I’m thinking he might finally end the offer in July when he has to meet with Manipur. In addition to settling the $30 million court case he can then discuss his takeover aspirations with them. By ending his takeover bid in July it will allow him to make a new takeover bid sooner given there is about a 6 month compulsory waiting period
Personally I’d like to keep my PACT shares forever
PGH Price at posting:
85.0¢ Sentiment: Hold Disclosure: Held
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