The reason for that is: - Core last spring was near bankruptcy and desperately needed help. Now they are slightly cf positive and not in the same precarious situation. - The recommendation from the Core board to the shareholders "to not tender their Core Shares". That's a 180 degree turn from the spring. Suggests that they have other/better options. - Mr Piggot who went bananas last time has been silent as the grave this time. Why if he thought the Core deal would go through?
I think that Titan has to sweeten the deal with some cash, not only paper for it to be more competitive. I'm not so found of taking a small stake in just some of the assets, seems like step backwards. Better to improve the deal with some real money.
Let's hope for some good news from Titan this Wednesday. (Core will get back January 7, 2020 at the latest.)
/SW
TTM Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
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