"They're being sold quite a bit less than the $2 offer—why?"
@Xfarmer
Firstly, Sumitomo has not made "an offer". They have submitted a conditional expression of interest. They are looking "under the hood" and are free to walk away if they choose.
Secondly, I think that "the market" doubts that the Cynata board will recommend the acceptance of a $2 unconditional bid to the shareholders. Without such a recommendation, the takeover is dead in the water.
In either case, $2 isn't a particularly good benchmark of value.
All the best.
Fair Value Please, page-202
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19.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $34.32M | |||
| Open | High | Low | Value | Volume |
| 19.5¢ | 19.5¢ | 18.5¢ | $58.84K | 310.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 33236 | 18.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 19.0¢ | 163350 | 1 |
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