The directors of Eumundi will get the sack once Axiom get 50% control, so what do they have to lose by asking for more lol lol!
They even make a vailed threat to the existing share holders by saying if 80% of the stock is not taken over by Axiom then you will be exposed to capital gains tax and we wont sell our 27%.
Peter laurance out danced Maquarie bank when they both launched bids for Axiom, and he'll do the same with Eumundi imho.
The Eumundi shareholders know the value of merging with Axiom, it would not be unrealistic to see their exchanged shares double to around 60c over the next 12 months, that wont happen with a small company like Eumundi and they know it. You cant blame them for trying to squeeze Axiom for more, but I doubt they'll get it.
If I was Laurance I'd say "look, if you merge with us your stock will double in the forseeable future, if you stay will the directors of Eumundi you stock will go back to 23c and you might see 30c in another 12 months time if you're lucky" !!!
Axiom are offering Eumundi a chance to grow at a much faster rate.
AXI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
