All,I'm starting this new thread to hear what you think about...

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.