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The wording "in the absence of a superior proposal" almost...

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Quingees

2,190 Posts.

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20/10/16

14:06

Post #: 20001161
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Originally posted by Parma ↑

Like many others I have some serious money riding on TTS.
The recent merger announcement and subsequent lift in the share price has certainly made a few people a lot of money.
The merger is likely to proceed, barring any concerns from the ACCC, unless of course this little comment in the announcement comes into play............"The Directors of Tatts believe the Transaction is in the best interests of Tatts shareholders and unanimously recommend that Tatts shareholders vote in favour of the Transaction, in the absence of a superior proposal"
What are the chances of TTS receiving a superior proposal ? If so, by who?
I don't recall which share market guru said "the first offer is not necessarily the last".
Will these merger talks flush out a takeover for TTS? Or even TAH?
Interested to read some views on this, particularly from Dull, a very long term and loyal holder.

Cheers

Parma

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The wording "in the absence of a superior proposal" almost invariably appears in takeover/merger documents - so I don't read anything in to that.

In any event, the only possible suitor is likely to be an offshore operator and I believe the ACCC would have a real problem approving that. Just my thoughts.

TTS Price at posting: $4.19 Sentiment: Hold Disclosure: Held
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