I don’t think there is any requirement for a board to make public an offer if it is not binding and credible. This is different than the issue if a board has to make a recommendation in the case of a binding hostile bid.
Boards can drag out the process by getting an expert report commissioned, etc, but ultimately they had better have something very concrete to rely on if they say no to an offer at a significant premium to the usual trading range.
I don’t think there is any requirement for a board to make...
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Last
$1.58 |
Change
0.055(3.62%) |
Mkt cap ! $268.4M | |||
| Open | High | Low | Value | Volume |
| $1.56 | $1.61 | $1.56 | $106.0K | 67.13K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 649 | $1.58 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.59 | 3000 | 1 |
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