Rumours have been circulating in the Street Talk section the Financial Review over the last fortnight that the Cape bid is not yet dead. Some major shareholders of PCG are allegedly going to requisition an EGM to ask PCG to drop the standstill agreement currently in place with Cape.
Another rumour from today's Street Talk in the Financial Review is that Cape's MD has flown to Perth to hold further discussions with PCG management. Street Talk speculated that Cape could simply make a hostile bid, subject to the condition that the standstill agreement in place is terminated.
Time will tell. At this stage it's all rumours, and i gather that these rumours over the last fortnight are responsible for the gradually rising share price.
Cheers.
PCG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
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