Someone said $1.25 but I cannot confirm the accuracy of this- anyone?
I agree Matt474, there is obviously an equilibrium price below which CF are unwilling to let go of their 13% holding for (they are infinitely cashed up and are here to make more- rather than report back to the Chairman with a dishonorable loss)
If the other parties are in fact genuine, there would be a considerable jump in the bidding. I am assuming that DML have looked into the sincereity of these bidders and I am hoping that this is why they have been so willing to hock the company.
Unless they were confident of a higher bid I would have thought that less drastic measures could be taken- even in this horrid capital market. Eg. Cashing out of all their hedge book should get them to a point where their creditors might see light at the end of the tunnel? Then a much smaller, less dilutive cap raise?
DML Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held
