From memory, the deal was Dusk buying Eroma for $28m. $15m in cash and $13m in script. I don't know the details but perhaps the script price was based on December price, so it would have been over $3 a share, which is not ideal at the current price I suppose.
Another scenario could be the deal was subject to Eroma's financial performance which they did not meet. DSK will have to fund $10m in debt from CBA to do this transaction, so perhaps Eroma performance isn't good enough to justify DSK taking on $10m in debt, which is probably equal to DSK's 6 months net profit.
Also Peter King topped up 100k shares on market on Feb 28th. So I don't think there is anything sinister about this termination.
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3 | 11667 | 0.900 |
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2 | 12470 | 0.850 |
Price($) | Vol. | No. |
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