I personally don't feel that way - that we are about to be totally shafted - but I could be wrong. I'm guessing the TH is just to formally pivot the boards recommendations etc to the Robe River JV following on from FEX's release today that they will not be matching the Robe River bid.
If you read the entire original bidders statement from FEX you will note there are a complex set of rules regarding how this agreement is exited, what exactly the directors of CZR can say or recommend, all of which can have an impact on penalties to either party in accordance with the BIA. I'm guessing CZR board taking time to make sure they do everything properly and minimise any costs and penalties to CZR.
At least that's what I hope.
CZR Price at posting:
29.0¢ Sentiment: Hold Disclosure: Held
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