Unwooded,back in the old days boards and mgmt would flag to the market just what bids they have received for their respective companies whilst not flagging the bidders,'in the hope' they might flush out any higher offers from any other bidders.
I reckon the the COA board & mgmt have really stuffed up here in either not announcing to the market ,to their shareholders price of bids received or in not recommending the $6.25 bid and also holding out for a misely 25 cents(ie.$6.50 per share in total) whilst accepting the global company operational risk that lower offers 'may' eventuate in the near future if future eps growth or forecasts do not eventuate
ie.what the coa board and mgmt are saying to the bidder(s) is thankyou but no thankyou for your $6.25 offer, but we feel confidant that we can generate the xtra misely 25cents growth in COA by ourselves tht we have been hanging out for
Basically,the board and mgmt should now be held accountable to any 25cents per share growth that does not come the way of COA stakeholders from here on in
LOL LOL LOL
:-)
COA
coates hire limited
