seems the the reply post button has gone missing on the other 2 threads. ?? In regard to a take over I have always thought we would get a least bid for control - Eg a take over subject to 51% acceptance - the obviuos place for this to come from is a collective bid from the Chinese.
The latest theory is a bid from OZL - Well given M & G selling down CDU and increasing their holding in OZL I would expect a protest to the takeovers panel as per the Mt Gibson mines attempt.
In no particular order some random thoughts.
We were told by hot copper punters M & G were in trouble and had to sell CDU because of fund redemptions - well that can be right given they are buying heavily into OZL with the cash from the CDU selling.
The Chinese have paid between $3.45 to to $4.50 for their stock they wouldn't be interesting in selling even at $5 ( IMO )
the IVA offer is a 60% premium to 90 day VWAP and offer at $3 a premium of 100% to the current CDU s/P would be unprecedented and OZL shareholders would howl them down for poor corporate governance.
OZL would only make an offer based on the disclosed resource - CDU have no DFS and no ore reserve - OZL could not make a tangible case to their shareholders to offer $3 for CDU - given the Chinese wouldn't even entertain $5 and offer from OZL seems unlikely to be tabled and if it was would have virtually zero chance of succeeding ( IMO )
The other well know fact in takeovers is the the target comapny goes up when the offer is made and the predator company usually goes down - M & G would have been of owning CDU if a takeover was in the wings.
