If memory serves me correctly, tomorrow (9 November) is the deadline for 90% of KIM shares to be in the GEM offer 'bag' to enable the takeover to go through on GEM's terms.
Has anybody heard how close or distant GEM is from getting the 90% - or walking away?
While I'm a great romantic, I can't support the belief a Knight in shining armour will appear in the last reel with a fat offer.
GEM getting 90% has predictable consequences. Every holder gets 70 cents.
GEM walking away could have unforseen consequences - expeciallly with the KIM board having created so much ill-will by kow towing to the GEM bid.
KIM Price at posting:
0.0¢ Sentiment: None Disclosure: Held
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