Australia's largest stock trading and investment forum Australia's #1 stock forum

EAR

Click for more information

0.00%

32.5¢ echo resources limited

NST Bid Foiled by the market, page-30

First 30 Last

Share
Profile

Follow
Discoveryman

309 Posts.

46

07/10/19

09:48

Post #: 40751968
Share

Originally posted by Slentik: ↑

As I understand it, there has to be a reasonable time between when the takeover fails and when the bidder can make a fresh offer.

According to this article, a proposal was made last year to set a time limit of four months before a fresh bid can be made. I don't know if that change went through or not: https://www.hopgoodganim.com.au/page/knowledge-centre/legislation-update/how-long-does-a-bidder-have-to-wait-following-an-attempted-takeover-before-making-a-second-bid

In any case, if the bid fails, I will be looking to buy back my shares at somewhat less than 33c and see how it goes.

BTW, I think (but I'm not sure) that it's possible for NST to do a separate deal with Datt which they don't have to extend to other shareholders. That could make things difficult for the small shareholders who hold on for too long.

Expand

That article says the proposed legislative change is for a company which states the offer they are presenting is their best and final offer and wont be increased so has NST stated they wont increase their offer?

EAR Price at posting: 33.0¢ Sentiment: Hold Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

3DA

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

Week 45 Wrap: Combat sports usher in Trump 2.0 – or is it male insecurity?; RBA boring; Propane suggests China alive

Trump is President Again: What Does This Mean for Crypto?

HotCopper Highlights: Your most watched and most discussed stocks this week

First 30 Last

Add EAR (ASX) to my watchlist