Swoop has no viable path to winning this takeover. Maxotel holds 48%, and the Vonex directors, who control 5%, have publicly stated they recommend Maxotels offer while deeming Swoops offer unacceptable.
I agree acquisitions to drive expansion are a good strategy for Swoop, it’s clear they lost this opportunity by joining the process too late. Based on recent announcements from the Vonex board, these delays appear to be a complete and utter failure by swoops management! despite having months of access to the books of vonex, the board and management failed to act until the final countdown for Maxotels initial offer leading us into this distraction that has no doubt cost us time and money.
The board are historical figures in telecommunications, but now they are the old guys in a room who can't even get up to win against a small private telco no one had ever heard of before.
SWP Price at posting:
16.5¢ Sentiment: Hold Disclosure: Held
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