I'm sorry but that isn't how things operate in the real world. In most takeovers, there are shareholders that are sunk, that's not the boards responsibility.
what is there responsibility is to assess any offer made in the best interests of shareholders. For the board to allow QIC to conduct diligence they would have had to form a view that the non binding offer is close to what they see as fair value or they would have knocked back the offer and request to do due diligence.
My guess is that if QIC are still interested in the deal, it might go for 2.20 or the like. - just my view.
QIC’s offer falls short of Superloop investor expectations, page-10
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$1.57 |
Change
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Mkt cap ! $786.6M | |||
| Open | High | Low | Value | Volume |
| $1.60 | $1.60 | $1.56 | $363.2K | 230.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3236 | $1.56 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.59 | 3236 | 1 |
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