RG’s $0.84 bid for PACT appears like it will be unsuccessful from a takeover point of view
However RG has managed to buy about another 37% of shares at bargain basement price which he wouldn’t have been able to do otherwise so from this perspective it’s been a great success. Maybe this was his primary intention all along
I think RG will just leave the $0.84 bid run until it must expire in September and try and acquire as many shares at $0.84 as he can
After the compulsory 6 month wait following expiry of the offer I wonder what he will do?
If RG makes a new takeover offer the bid price he will have to negotiate with the larger holders will likely be huge if he has any hope of them accepting. I don’t think RG has much of a history of making generous offers
I’m wondering if there is any alternate way that RG can take over PACT without making a generous takeover bid? If RG just buys shares at market price under the 3% per 6 month creep rule can he achieve compulsory acquisition of PACT in this way?
RG’s new plans?
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Last
85.0¢ |
Change
0.005(0.59%) |
Mkt cap ! $292.6M | |||
| Open | High | Low | Value | Volume |
| 84.5¢ | 85.0¢ | 84.5¢ | $28.82K | 34.05K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 273955 | 84.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 85.0¢ | 165749 | 27 |
View Market Depth
| Last trade - 16.10pm 26/04/2024 (20 minute delay) ? |
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Last
84.5¢ |
Change
0.005 ( 0.00 %) |
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| Open | High | Low | Volume | ||
| 85.0¢ | 85.0¢ | 84.5¢ | 3164 | ||
| Last updated 15.59pm 26/04/2024 ? | |||||
| PGH (ASX) Chart |