Bid is only conditional on 50% acceptance and even this condition can be waived. Consequently, it is likely that even if the bid is successful, ROC will still continue to exist on the ASX, but with a large controlling shareholder (maybe > 50%, maybe < 50%). I think the company will need to acquire >90% of shares to be able to move to compulsory acquisition of outstanding shares.
I doubt they will get 90% at 69 cents. May not even get 50% at that price.
Regards
SP
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