ION 0.00% 0.9¢ iondrive limited

I don't think MLX/WGX is directly buying shares at all. I...

  1. 390 Posts.
    I don't think MLX/WGX is directly buying shares at all. I speculate that banks, who are in the business of preparing the groundwork and then executing mergers and acquisitions, can easily use their high frequency trading algorithm trading desks to " shake the tree" and just see what happens. I see this as a probing excersise and the first part of an overall strategy. Several months ago, the banks might have considered our shareholders ripe for the picking. However, with hindsight, I think not too many shareholders have fallen out of this "tree shake". Best laid plans don't always work out.

    I'm quite sure that MLX management would have at least considered a takeover of SAU. To not even remotely entertain this strategy, given current arrangements, could be considered rather careless on their part(IMO). Contracting a financial services provider to probe ways of taking over this tiny company - isn't a such a stretch of the imagination either IMO.

    As in a detective story, I can assume there's motive for and ability to execute the deed (to artificially suppress SP). However, this is real life and I believe SAU's general shareholders haven't sold very much at all. The victim didn't want to play ball with the author of this cheap plot. Knocking the SP down to 24 simply wreaks of desperation from these sellers. Putting our feet to the fire, I'm betting that they try to hold it down here (mid 20s) until the new year. After that, I'm guessing it'll difficult to hold it down much more (that's without POG plummeting in sympathy with them). This is irrespective of whether a takeover is decided upon or not. In the new year, SP could easily levitate back to 40s without takeover proceedings and possibly rocketing higher with.

    Happy to hear that so many of you are holding your nerve. I apologise for my cynicism (to those who are less cynical) - just airing my guesses and venting my spleen. That's HC for you - everyone's got an opinion.
 
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