"does that mean EMR will not proceed their acquisition"
In what scennario did you read the issued statement and conclude that might be what it was saying ?
"it will not take any steps to process acceptances of, or issue any Emerald Resources NL shares to, accepting Bullseye Mining Limited shareholders...........until the determination of the Panel proceedings."
What is not said is what is the position of the takeover offer...its end date is the 14-jan (i.e. friday). This was not referred to, and so in the absence of fresh news to the contrary, the offer would appear to end then, at which point EMR will have acceptance of 50.25% of bullyseye shares (or maybe some more if there has been more agreed in the meantime), which is an uncomfortable position.
EMR Price at posting:
$1.14 Sentiment: None Disclosure: Not Held
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