Now we're in play and this exclusivity crap is done and dusted, ID's front door is wide open....
Even though i don't believe SXY (which includes ID at the helm) have promoted this stock well over the recent years we all know he's is good at doing a deals...!!
And the BoD have more to gain or loose than most of us...
I'm sure the phone calls and off the record discussions have been ongoing with other parties since the announcement of POSCO bid...... but until today we were not 100% in play......! POSCO could have taken their bid straight to market and may have threatened to do so unless they found support from the board...the SP has been manipulated none stop.. even last week it was down below $4.30.!!! with a total bid on the table of $4.65....I've never seen that before.!
I've milled over this time and time again., and now I'm convinced that other bids/bidders will surface.....SXY will be a money making machine in the years to come. And its resources needed in Australia.
I'll reserve my full judgement of the board in the new year and give other suiters chance to show their hands before I throw my towel in...!
SXY Price at posting:
$4.58 Sentiment: Buy Disclosure: Held
