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.
Ann: Termination of Acquisition Agreement - Eroma, page-10
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Last
92.5¢ |
Change
-0.010(1.07%) |
Mkt cap ! $56.97M | |||
| Open | High | Low | Value | Volume |
| 94.0¢ | 94.0¢ | 91.5¢ | $59.24K | 63.89K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 23841 | 91.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 92.5¢ | 4079 | 2 |
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