re: News: Rio fails to score majority Riversd...
Distef I totally support your views! It seems a travesty that the "rules" allow a bidder to have a condition on the price paid that could prevent accepting shareholders from receiving a full price for their shares because of a few dissenters. In fact it is very possible they would have been better off hanging tough and selling on market at a price that surely will exceed $16.00 from tomorrow.
Interesting situation also for those still holding because any large holders that are now locked in to receiving $16.50 only if enough acceptances are received, might be better off buying on market and tendering those in to try to ensure it. Could it be that demand for the small number of remaining shares drives the price up to, or even above the offer price? I know it's a long shot, but trading is going to be interesting in my opinion.
regards DF
RIV Price at posting:
$16.10 Sentiment: Hold Disclosure: Held
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