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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$1.16 |
Change
-0.035(2.94%) |
Mkt cap ! $71.91M | |||
| Open | High | Low | Value | Volume |
| $1.18 | $1.20 | $1.15 | $169.3K | 144.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 48 | $1.16 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.19 | 5883 | 1 |
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