A good outcome from ACL holders IMO. Based on recent price and performance the 0.75 share offer would’ve been a steal for HLS holders.
I note ACL still appear very interested in a merger, and it reads like they are already planning ahead with the next steps regarding ACC (Federal Court). It almost reads like this was just a step in a planned longer process (with a renewed lower offer)
It’ll be interesting to see what the market thinks of the news - whether it’s a positive or a negative.
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