Hi Mark, the TGP plan has always been to increase the gearing in AJD, but the message that this gives NXT is that TGP is playing for keeps. So NXT need to stump up or walk away with either no holding or a minority stake. DOING NOTHING will not work for NXT now as there $1.87 offer will go nowhere. I think TGP expects NXT to hang around "at least". For this deal to be taken serious TGP need min 50% and mgmt control, hence AJD directors will still favour the NXT bid "for now".
As I have mentioned before NXT lose, whilst TGP and AJD shareholders win !
AJD Price at posting:
$1.96 Sentiment: Hold Disclosure: Not Held
