There is no way the board of a company growing this fast dare meekly submit to a takeover bid at the barest premium to the existing share price.
This may fall over, but IOOF will regard this as about their last opportunity to buy a ready made modern platform. They could easily spend this amount on just trying to develop one, and may have already done so.
This is not a company dressed up for sale. It is just entering its profitable phase with a slightly geometric progression.
For the arbitrage portion of my portfolio this is still a buy at $ 2.70. If the bid falls over, there will be some modest short term downside. If not, either IOOF will have to pay $3.25 or so or someone else, perhaps BT (who also could do with a decent platform) may come in over the top.
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$47.73 |
Change
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Mkt cap ! $3.873B |
Open | High | Low | Value | Volume |
$47.94 | $48.12 | $47.38 | $13.21M | 276.1K |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 1334 | $47.66 |
Sellers (Offers)
Price($) | Vol. | No. |
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$48.00 | 2000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 1334 | 47.660 |
1 | 561 | 47.600 |
1 | 470 | 47.550 |
1 | 21 | 47.300 |
1 | 213 | 47.100 |
Price($) | Vol. | No. |
---|---|---|
48.000 | 2000 | 1 |
48.020 | 603 | 1 |
48.040 | 339 | 2 |
48.060 | 603 | 1 |
48.100 | 3937 | 3 |
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