TMR has been and continues to trade at a premium to IBR even at the bid price of 4 to 1, think about it, think about it “TMR (4 TMR shares is worth $1.04 cents based on todays closing price), where as IBR closed at 93 cents.
That's right the bidder TMR is trading at a premium to the target IBR …. Now in normal circumstances the bidder normally pays a premium and consequently it is the bidder which trades at the discount - but not here, and why is that? it's because the market is telling us TMR bid is undervalued and results in the transfer of shareholder wealth from IBR shareholders to TMR shareholders - and the directors of IBR should be ashamed of themselves for selling out IBR shareholders.
Hugh C, I note SMO did not advise any change in the level of acceptances yesterday or today - drying up are they - sure looks like it.
IBR
iberian resources limited
TMR has been and continues to trade at a premium to IBR even at...
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