is no news good news?, page-2

Bernard,
first of all, thanks for beginning a new thread!

I think any offer made (without too many conditions), will be presented to shareholders. The directors may feel it is inadequate, and they can express this to shareholders. However, the risk of being subject to a class action for not making the offer available to shareholders is a real risk for directors.

A couple of my friends are non-executive directors of asx listed companies, and they have both received advice from lawyers representing their companies to make the offer available to shareholders as, these days, they could be subject to a lawsuit.

I feel we will see 1 bid only, and it may be successful unless the insto shareholders have agreed with DML to fully support a placement at a reasonable price (with a shareholder SPP).