phone call from umc, page-20

Looks like the proxy vote mail ballot aren't looking too encouraging for these MFs. No decent MF would recommend the acceptance of a first and only bid. Do you smell fish ?

I suspect most retail holders who bought UMC wouldn't be your average mom-and-pop who hasn't got a clue about this space. UMC is no Harvey Norman, CBA or Telstra. If you don't look it up, you won't know it.

I mean UMC is one those stocks that would be typically be bought by someone who has done a bit of research and has decided to invest in the IO space.

Hence, my hunch that most holders who have decided to hold on would vote NO.

If the instos (who knows if they have been representating Chinese interest to do a reverse torpedo) do what I hope, the board is finished.

Expect BHP to come up with an instant counter-bid.