STX 0.00% 19.5¢ strike energy limited

News: STX UPDATE 1-Mineral Resources steers away from Warrego Energy buyout plan, page-60

  1. 618
    3,196 Posts.
    lightbulb Created with Sketch. 2112
    I don't believe MIN can exceed 19.9% without lodging a bid for WGO, but there is nothing stopping them accepting STX bid which would land them an approx 7% of STX. This will be diluted down to 5% IF Hancock also converts. At 7%, MIN does NOT have to bid for STX.

    Put it this way, if an entity ends up with 80% of NWE and accepts MIN offer, it would be an absurd requirement to require that entity to then lodge a bid for MIN given that 80% of NWE will end up being a very small proportion of MIN once converted.

    618
 
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