Tangetland you are describing the absolute dream scenario for all of us. A knock down drag-em out fight for control between 2 or more cashed up suitors.
As someone with a lifetime in and around investments I'm going to be absolutely fascinated to see it play out. Here's how I think it will go. BP A will rather pay us a bit over the odds than get into an auction with BP B and C. So they will try and grab a strategic stake say 5% by buying on market or doing a direct deal with a major shareholder(s). They then launch a full bid that they will say is first and final at a juicy enough premium that management have to recommend it.
Hopefully nobody accepts their offer until 4.59 pm on the last day forcing them to increase their own offer or giving B time to come in over the top.
When that offer comes the market will tell us if its likely to succeed or not. Lets say that they offer $30. If the market immediately starts trading at $32 its a signal that the offer is too low. Once a company officially launches a bid they cannot buy more on market. So if BP A says I give you $30 in a months time if you accept now (provided enough other shareholders accept to give us control) and some anonymous dude on ComSec says I'll give you $32 in T+2 its a no brainer. They are never going to get it over the line unless they sweeten the deal.
On the other hand if the market offer $29.80 that dude on Comsec is saying its a done deal but you pay me 20cents for the convenience of having your money now rather than at the end of the TO period.
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$13.96 |
Change
0.345(2.53%) |
Mkt cap ! $1.763B |
Open | High | Low | Value | Volume |
$13.60 | $14.00 | $13.51 | $1.894M | 137.3K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 41 | $13.95 |
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Price($) | Vol. | No. |
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$13.96 | 58 | 3 |
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7 | 269 | 13.960 |
3 | 307 | 13.950 |
8 | 517 | 13.940 |
10 | 1372 | 13.930 |
7 | 710 | 13.920 |
Price($) | Vol. | No. |
---|---|---|
13.980 | 783 | 3 |
13.990 | 2061 | 10 |
14.000 | 7454 | 11 |
14.010 | 499 | 3 |
14.020 | 742 | 4 |
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