Because one of the key bid conditions is to get over 90%. Once over 90, they have a compulsory right to take the remaining 10%.
If less than 90%, the bid fails (as it is currently written) and all bets are off.
It is also why no FML shares will be sent to CRE holders until they get over the 90. No exchanges technically take place until 90% is reached, including the Deutsche Bank shares. It is just an "agreement" if the bid succeeds.
IMHO I do think the bid will succeed, it will just take another month or so.
not a good day for fml, page-14
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Last
15.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $42.98M | |||
| Open | High | Low | Value | Volume |
| 15.0¢ | 15.0¢ | 15.0¢ | $7.395K | 49.30K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 46518 | 15.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 15.5¢ | 29573 | 4 |
View Market Depth
| Last trade - 10.02am 17/09/2024 (20 minute delay) ? |
| FML (ASX) Chart |