my valuation, page-15

Hi Marben and Fordtin,

Praise from you fellows is high praise indeed. I urge any HC members to read the KAH thread on ADVFN. You will feel embarassed because the quality of posts is so high compared to the large amount of crap we have to endure on Hotcopper.

Just read the property thread if you doubt my criticism is justified.

Fordtin I am sorry but I have to say I don't know. From memory, when offers are refused the offerer generally comes back with one or two better offers but I take your point, if they are knocked back why should they not be allowed to keep buying on-market.

I am trying to remember some failed takeover bids but the only one I remember is the takeover bid for Jervois mining by another mining company and when their offer was refused they simply sold all the shares they had already accumulated and made the Jervois price dive (rightly so as Jervois is a crap company).

Abother takeover bid just occurred to me, I think it was a British company trying to take over Origin Energy (relying on memory) and when they were refused they simply came back several months later with a higher bid which I think was also refused but I don't think any further accumulation had occurred on-market. Whether they weren't allowed is something I am not sure about.

I'm guessing that the 3% per six months rule applies if you have exceeded 20% and your takeover offer was refused.

Sorry, I couldn't be more sure.