This is a cheeky move to mop up annoying minorities picking up AKR and therefore ONC on the cheap below their real valuations. if you think about it they sold their billtobill around 20/21cc into ONC and are now buying a part of their stake back at a much lower price due to low market ONC valuation,
Everyone knows ONC is very cheap and has a large amount of excess cash (just like AKR) and therefore after the expert report, I hope it sheds more light on ONC's business and i think 90c for AKR will not be enough. 1.20 minimum imo.
happy shareholder of AKR (definitely will not tender my shares at 90c)
happy shareholder of ONC (will be buying more perhaps however I think management has a lot to answer for here, this is a public company not a private one, report the figures, report the growth, dont hold the stock down so that more options can be exercised to directors, shed some light on the smartpass joint venture, how are assets and libs segregated, ONC is simply not transparent and it shows in both the shareprice and impatience of holders like thorney!)
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