I think everyone is getting excited over nothing,But that said I DO NOT trust Chinese takeover offers.
Firstly, If Cathy Fortune are serious about a second offer they would have informed DML not just made a an apparent statement in a letter to shareholders as reported in the press. DML would then have a duty to disclose this via an ASX announcement. No Announcement has been made so unless one is made tomorrow I can only assume that CF have declared their interest via the media and not by proper channels.
Secondly, I am not a Lawyer(I am an accountant)but I understand that under the takeover law in Australia CF would be prohibited from making a takeover offer for DML until some time in August.
To me this all sounds like typical rubbish that the Chinese come up with in a takeover.
Cheers
DML Price at posting:
34.0¢ Sentiment: None Disclosure: Not Held
