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NST Bid Foiled by the market, page-30

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Discoveryman

301 Posts.

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07/10/19

09:48

Post #: 40751968
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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.

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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
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