All,
I'm starting this new thread to hear what you think about CF's announcement today that it's "ready to make a new cash offer for DML on condition that it drops its equity raising plan".
Key questions I'm interested to answer include:
1. Will DML management now take CF's offer serious enough for a proper DD?
2. At what price/share will CF offer SHs now? Logically, $830m-$250m debt-$75m equity raising = ~$505m / 490m shares outstanding = ~$1.13/share. But given the deteriorating condition this time, a 20% discount might be more appropriate, giving a revised offer of ~$0.82 per DML share.
3. Will SHs have a chance to vote on this bid this time? It's my impression SHs didnt have any say on the last $1.70 bid.
4. Given the various discussions happening, how long will DML shares be in trading halt for?
DML is looking more and more like Billabong each day, rejecting a $3.30/share bid only to raise equity not long after, and now negotiating over a $0.60 bid.
- Forums
- ASX - By Stock
- DML
- cf's new cash offer for dml
cf's new cash offer for dml
-
- There are more pages in this discussion • 24 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add DML (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
SER
STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
SPONSORED BY The Market Online