rear guard action

Looks like a rear guard action is forming at 52 cents.If these shareholders can get a reasonable amount lined up at 52 cents (say 150million) then AGL may be tempted to raise the bid and take them out as this could gurantee AGL the 90% compulsory acquisition threshold.

SGL has over 6000 shareholders and it will be interesting to see how many join this rear guard action at 52 cents.AGL would do well to take notice of this because past experience has shown these small shareholders to be incredibly loyal and stubborn in the face of takeovers.
I am in this camp and woulld sell if we got a better offer even though I know AGL's bid is opportunistic in trying to grab the company not long before it hits its straps. If AGL does not get 100% I think they will find themselves in for a difficult time as this broad band of loyal activist shareholders set about holding them to account.

It will be an interesting few weeks.