MCR 0.00% $1.39 mincor resources nl

The more important question to be asking yourself at this...

  1. 5,006 Posts.
    lightbulb Created with Sketch. 2244
    The more important question to be asking yourself at this juncture, imo (naturally), is how one would find a buyer for their remnant shareholding and at what price if (when) the company is taken private. Today's announcement was a not-so-subtle reminder to the hold-outs of the very real prospect of being a captive SH with precious little opportunity to 'easily' exit their positions in the future without a transparent and reasonably active price discovery mechanism (between buyers and sellers) that the secondary (listed) market offers. This risk was clearly raised in both the Bidder's and Target's Statements.

    The punt window remains open until the bid eventually expires. If you're lucky you might extract a few more pips from the 30m-odd shorts who will almost certainly need to close their positions before the bid closes. That said, I wouldn't expect a massive short-covering rally, but that will really depend just how close to the wire the covering shorters and the ~200+m remaining hold-outs leave it in their game of Chicken.

 
watchlist Created with Sketch. Add MCR (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.