Looks like a done deal to me with the board and Creasy signing up to the offer.
There is no sign that the fundies are buying SIR in anticipation of a higher bid or arbitraging, otherwise we would be seeing massive SIR volumes going through.
If the funds don't think there will be a higher bid, then the odds of one coming are slim IMO.
Never say never - maybe an open door is that IGO has come off 20% since the bid, so the bid offer has dropped something like 10 to 15%.
I calc the current offer as being worth 0.66 x 4.84 = $3.19 + $0.52 cash = $3.71 + S2 = ~$3.81
So... market is pricing pretty close to the offer at last SIR sale of $3.78.
I am a mug because I bought first day, not anticipating that IGO would get hammered. Better learn from that one.
Gosouth
SIR Price at posting:
$3.78 Sentiment: Hold Disclosure: Held
