this is from HSK's announcement that its bid will lapse:
"NQM shareholders who have already accepted Heemskirks offer will retain their shares after the offer lapses on 10 September 2010 and will be free to deal with their shares in NQM as they see fit."
so HSK will end up with no NQM shares.
If the CQT SP keeps rising next week the NQM Board really should tell MB to put up or shut up. at a CQT SP of 50c+ the CQT offer meets the fair valuation by the IE and in those circumstances the NQM Board would have to look at their own legal obligations in making or not making a recommendation.
I don't know much about CQT, but in my view the CQT Board has managed this process much better than the NQM or HSK Boards, and that gives me some confidence.
NQM Price at posting:
34.0¢ Sentiment: Hold Disclosure: Held
