When a TO at a premium is pulled, the target's shares normally fall. In the case of MEO, given he TO is essentially at a discount, MEO's SP should rise.
Given MSMN's anaemic cash balance, they will limited capacity to pursue MEO. Each letter or offer will cost them hundreds of thousands of dollars. Maybe, we should register a tin-pot company with $3,000 of paid-in capital and offer a TO offer of MSMN. We will offer them some useless shares and a paperclip for every 1,000 MSMN share. Waste their time, see how they feel.
To put it nicely, MSMN can go jump.
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Many years ago, another lifetime ago, I was a investment banker . . . on tour in north America, we ran a roadshow in Toronto. Driving back from the airport I remember seeing a sign for KY-Jelly that read, "we can't think of another use for it either!".
For some reason, this reminds me of MSMN. Why the hell would even remotely be interested in receiving MSMN shares at a discount? Might as well ask us to drop our pants, bend over, and relax for a minute.
MEO Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
