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the last thing we want is for the bidders to walk

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db76

2,909 Posts.

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31/01/18

15:28

Post #: 30704230
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Originally posted by Guerilla ↑

This scenario is covered by clause 11.6 (d) of the Scheme Implementation Deed (SID) between AWE and MIN. Copy attached to Post #: 29792087.

Any counter proposal by MIN to be "no less favourable" than Mitsui's $0.95 ps cash bid for MIN to re-gain pole position.

Clause 11.6 (e) talks of "successive material" proposal/s. So if MIN matches $0.95 ps, then Mitsui /another would need to raise it materially being to? $1 ps?

Then the merry-go-round would continue until ... MIN stops matching.

Clause 11.6 (f) allows AWE to withdraw from the SID where MIN does not make a counter proposal with 3 business days.

Considering Mitsui's first bid is 14.5% above what the AWE Board hastily recommended barely a month ago, shareholders' frustrations with the AWE Board are understandable.

DYOR

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the last thing we want is for the bidders to walk

AWE Price at posting: 97.3¢ Sentiment: None Disclosure: Held
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