re: Ann: Targets Statement - Board Recommends...
I agree. That independant expert valuation could put the directors in a bit of a corner if CFC raise their bid to $2. With so much of the stock held by the 20 biggest shareholders ( i think 63%) then the directors are going to be hammered by some overzealous lawyers if they dont approve a bid in that range. And therein lies the problem with our corporate legislation which inhibits long term thinking by australian directors. The Asian corporate community ( which plans for decades - not months ) must think we are cowboys. I think unless another suitor comes along i think DML will be gone inside 2 to 3 months. Hopefully i am wrong or maybe the shares are only worth the $2 but i think not if the chinese are after it as i am confident they have spotted a bargain
DML Price at posting:
$1.69 Sentiment: Hold Disclosure: Held
