It takes two to tango. An unsolicited bid is likely to get short shrift from the board for the very reason that there is also some criticism - namely the board made sure they have a vested interest in the share value achieved. Why go to such an effort to date to then merely get taken out at $1.50 say, when with just a little more time as contracts continue to come in and roll out the share price will climb towards the $5.00 mark anyway? It's not as if there is the risk of one product and one customer. Every month they find new nuances and new high profile customers.
They are in such an exciting phase it's hard to see the appeal also of retaining upside via a share swap with anybody.
No, we will probably see at least $2.00 before a big player makes a compelling knockout move. Could be an interesting premium paid to secure the takeover.
AJX Price at posting:
80.5¢ Sentiment: Buy Disclosure: Held
