Can't see it happening. Cephalon is updating the market with sub. shareholder notices regularly and is short of 30% currently. It has said it will extend its current offer (which runs out in a week or so) if it has 80% by that date............very unlikely,although you never know with the way the price is behaving currently.........the market is now factoring in failure and a board who have no desire to go it alone. There may be a flood of acceptances as it appears no rival bid is feasible.
The sentence from the announcement 8/5 that you need to bear in mind is :"Cephalon Australia will not free the Offer from the condition set out
in section 7.6(b) of the Offer (90% minimum acceptance condition)
under any circumstances. If the 90% minimum acceptance condition is
not satisfied all acceptances of the Offer will be void.
"
ie) Cephalon currently has nowhere near 30% actual interest in SRX as it includes acceptances in this figure........if they don't get their 90% then these acceptances become void and Cephalon's holding reverts back to what they actually OWN ,which is little if any.
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Can't see it happening. Cephalon is updating the market with...
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Last
17.5¢ |
Change
-0.015(7.89%) |
Mkt cap ! $74.27M |
Open | High | Low | Value | Volume |
18.5¢ | 18.5¢ | 17.5¢ | $447.7K | 2.479M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
11 | 3091126 | 17.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
18.0¢ | 2630108 | 14 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 2036126 | 0.175 |
4 | 722000 | 0.170 |
2 | 27186 | 0.165 |
2 | 109900 | 0.160 |
3 | 947096 | 0.155 |
Price($) | Vol. | No. |
---|---|---|
0.180 | 2630108 | 14 |
0.185 | 257515 | 4 |
0.190 | 321336 | 5 |
0.195 | 511816 | 5 |
0.200 | 371294 | 8 |
Last trade - 16.10pm 22/07/2024 (20 minute delay) ? |
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