Hammer need to be careful that they don't get taken over by an all scrip bid valuing them at $60 million, 50% above their current share price level. It would be hard for directors to advise shareholders to do anything other than accept the bid in the absence of a higher offer. The only defence would be releasing some great results to boost the share price. The most likely acquirer is Carnaby but there may be others.
DYOR Not investment advice
Hammer need to be careful that they don't get taken over by...
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