if i don't accept ucl offer, what then? , page-8

True seals, I was only commenting on the 8.5% question. I stick with my belief that a takeover by either party will only be successful if it offers a significant premium to their current respective share prices. A takeover by MAK of UCL is less likely than the other way around as the UCL shareholding registry is alot tighter. Last I checked, the Top 20 in MAK only hold 20%. Taking away MAKs shareholdings in UCL, the top 4 or 5 hold more than 50% in UCL, making it almost impossible for a successful hostile takeover (which this whole saga clearly is).