I'm not suggesting this is the current situation, but I can't help thinking it is possible, even probable.
There is a disconnect between the Board / Management and our largest shareholder. The former want to do a deal (and there have been offers) and LW wants NEU to go it alone. The situation led to the resignation of LW's representative on the Board.
LW sees considerably more upside than what he would receive from a takeover. He also believes that he is in a position to fund the phase 3 trial.
So there is an impasse - LW has a blocking vote and the Board cannot do a deal without his approval.
Current Scenario
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Last
$19.97 |
Change
0.070(0.35%) |
Mkt cap ! $2.552B | |||
| Open | High | Low | Value | Volume |
| $20.22 | $20.44 | $19.85 | $4.194M | 209.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2772 | $19.93 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.99 | 3310 | 1 |
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| Last trade - 16.10pm 04/07/2024 (20 minute delay) ? |
| NEU (ASX) Chart |