The period to accept Jindal's 30c/share offer was extended until Tuesday 5th July in the last ASX announcement so you still have a few weeks to hold out for something better if you so wish.
Jindal is in luck this time round with their bid for RCI, the market is going to sh!t right on queue, there's no competitors in sight and the traders who hoovered up all the free floating stock following the takeover announcement now appear to be heading for the exits at 30c/share.
I'd say the chances of a competing offer coming forward now, considering the financial environment and the amount of time that has already elapsed, are now extremely low. A rush of punters exiting the stock at 30c could now be on the cards.
It will be a tough decision whether or not to sell into the offer as the deadline approaches for myself, I might choose to sell 50% of my holding as an insurance policy against the share price falling away if the offer isn't renewed.
One to watch over the coming weeks.
RCI Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
