Thanks for the link @Artvandelay01 - insightful that just 37% of hostile (non board approved) succeed vs over 87% of friendly (board approved) offers.
In light of the TCI shuffle of shareholding lodged only yesterday - I am thinking that the 17% stake potentially indicates that they have already been in talks with the TCI... and are working on the right price with them for an off market purchase of their parcel... that will give them the 50% and then if a handful of retail holders also go for the $0.80 offer they take control. Does this also then put into question the presence of a TCI member on the board of IFN?
Is it legal for them to offer greater than market price to TCI individually (say $1 - $1.50 per share...), conditionally on the FIR approvals being obtained... and then leave us with the pre-covid price to accept should we not wish to remain on board a majority held and controlled, yet publicly listed company which may no longer be acting in the interests of ALL of its shareholders.
IFN Price at posting:
81.0¢ Sentiment: Buy Disclosure: Held
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