I am not sure that this new offer is strange. The preferred value of the company in the draft IER was 20.7c. This changed to 20.8c in the final IER. It is therefore not necessarily in response to a counteroffer that Pfizer upped its offer; it could have been that they had seen which way the no vote was going.
In any event, in terms of Clause 11.5 of the scheme deed, Pfizer need only match, not exceed, any competing offer.
RAP Price at posting:
18.0¢ Sentiment: Hold Disclosure: Held
