re: Ann: CBX: Target's Statement in relat...
Rejection is normal, Directors have to be seen doing something for the shareholders of their company. Maybe it does or has turned into a luv / hate relationship with the other directors but who would know and who would care, its all based on price. Both companies share price are not to flash from their historic highs. But MTE only have another <5% to pick up the controlling interest, where CBX directors have said in the latest announcement:
"MetroCoal has stated in its Bidder’s Statement that if it acquired less than 90% of the Cape Shares, but was still able to gain effective control of Cape, then they would consider acquisition, buy-out or cancellation of the Cape Shares or other Cape securities not in the control of MetroCoal."
I hold MTE , so I want them to succeed, probably bad luck for CBX holders but it could have been the other way or no way. Thems the breaks.
MTE Price at posting:
2.9¢ Sentiment: LT Buy Disclosure: Held
