Hi SD,
There are ways of a takeover proceeding without paying out the the hybrids at par.
Easiest way would be by a scheme of arrangement.
It would involve a 2 stage process where
1.hybrid holders vote on changing the conditions attached to a takeover
2.ords vote on takeover.
both being contingent on the other.
Other way for eldpa to be bought back at less than par, is for the company to do a buyback.
Can use the threat of an extended divi suspension as a stick.
I would agree that ELDPA may well move first, and the premium for them may well be greater than the ords.
cheers
Hi SD,There are ways of a takeover proceeding without paying out...
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Last
$9.20 |
Change
0.030(0.33%) |
Mkt cap ! $1.453B | |||
| Open | High | Low | Value | Volume |
| $9.28 | $9.28 | $9.03 | $3.598M | 392.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 13049 | $9.18 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $9.20 | 1062 | 2 |
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| Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
| ELD (ASX) Chart |