The ferrets are hunting. It took longer than I expected but eventually made contact with Fin Review , SMH and Crikey. Thank you to those who helped in suggesting contacts and providing isues/comments.
The initial reaction however was not that positive. AFR has had detailed discussions with Miles Kennedy who is apparently cut up about being forced into this position and is very aware that rating with shareholders is going to take a dive. He is also struggling with the death of a colleague.
It transpired that KIM has searched the world for other bidders and knocked on the door of the most probable, but drew a blank. Apparently it is GEM or nothing. But wait, until others see what the offer is. Maybe that will draw someone out to compete.
From the journos' perspective there is a degree of reluctance to delve into something that can not be proven. And raising issues can be fraught with legal retribution.
But there has been some ongoing phone calls and email exchanges which gives me hope.
In particular Michael Vaughan at AFR has advised he has a good source that advised there was some definite improper trading prior to the TH and TO offer. But also said it would be impossible to prove.
We have laws to prevent this sort of thing. They obviously do not work!
Hang tight.
KIM Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
