EMR 2.36% $3.72 emerald resources nl

This seems like a weird offer to me. EMR already own 55% of the...

  1. 9,063 Posts.
    lightbulb Created with Sketch. 3955
    This seems like a weird offer to me. EMR already own 55% of the Bullseye scrip. So best case for them is that EMR flips 55% of the company for a 4c profit (about $10m). Base case is they pay overs for the other 45% share holding and still have a minority holding? I don't understand the play?
 
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