It is all about time value of money which these clowns don't understand.
Even at $6 we would have been better off -bird in the hand is better than 2 in the bush.
These fools want to secure their jobs and that is why they reject these offers without even considering shareholders.
The only slight hope we have is that the offer is 10 cents away from what Coats originally wanted ie 6.5. Therefore, it is very unlikely that the preditor will walk away for 10 cents. They may come back more strongly and put a final offer on the table soon.
But the sad thing is that the stock could drift lower and our capital is tied
COA
coates hire limited
