This is going to be very interesting on Monday at the take-over panels. The decision will lay precedence over a number of issues and could possibly lead to those fund managers blocking the deal by challenging it in court!
The acceptance that pushes it over the 50% was late and news were released that the bid had failed and APA is walking away, therefore all the 46% acceptance in essence were effectively terminated!
IF the take-over panels allow the late acceptance, will it provide a time frame for the original 46% to change their mind? Bear in mind, even if the take-over panels allow the late acceptance, APA still has the 70% minimum acceptance condition in place and until there is no certainty it will get 70% or APA will remove this condition.
Will QAN trading be suspended pending this decision?
deadline was not met, page-2
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Last
$7.42 |
Change
-0.060(0.80%) |
Mkt cap ! $11.60B | |||
| Open | High | Low | Value | Volume |
| $7.45 | $7.45 | $7.36 | $37.23M | 5.025M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1985 | $7.42 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.43 | 7279 | 6 |
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| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| QAN (ASX) Chart |