Listening to the conference call it seems that most of those raising questions (instos included) are as perplexed as I am (and others on HC are) about this low ball offer.
GC repeats the mantra of 'business as usual,' and things going to plan yet it seems that there are now significant new risks that have yet to be socialised.
Bringing the offer to shareholders is fair enough, but it's the unanimous Board recommendation that I struggle with.
There's something that seems just a bit odd about this IMHO unless it's the opening gambit in expectation of an auction with some genuine bidding tension.
SEH Price at posting:
23.5¢ Sentiment: Hold Disclosure: Held
