I agree that one of the aims of the offer - $1.50 plus 18 pieces of nothing - is to condition shareholders into thinking that accepting $3 or $4 is ok. I hope we can all see through this. For mine, this is the most dangerous aspect of this takeover bid.
If they are forced to justify their offer when they come to compulsory acquisition, then they run into a problem. They can't just pluck numbers out of the air. That's the point where their plan comes unstuck. But we have to force them there first.
BRM Price at posting:
$2.50 Sentiment: Hold Disclosure: Held
