CHAMP has taken its stake in the company to 19.6%. The action of continually increasing their stake following announcement of the conditional bid is pretty strong evidence of CHAMPs intentions and also its view as to getting this deal over the line. Offer is likely to be priced at .325 as indicated although who knows they may sweeten it slightly in order to get required large shareholders over the line. There is still an arbitrage opportunity here. Not going to make you a millionaire however you are looking at a 12% return which is nothing to be sniffed at in the current climate.
OOH Price at posting:
29.0¢ Sentiment: ST Buy Disclosure: Held
