Wow what a back flip from spinless Paul. Bet CHM were watching & think he will crumble three days before court decision. Why not give the $135m to CHM and say good bye.
What was Paul thinking. I think CPG got in his ear told him the market is no good & he thought i'll sell. This holding was never about making money & never about the market. It was a deliberate block to force Sino's hand. So no matter what the market price Sino would always have paid over $6.38 at any time to get that 10%.
What about harbinger. They will be pissed off. Look for them to drop MMX quick smart. They bought on the idea of a merger & MMX stop hold. Man they will loose on their 15% by approx. 50cents per share OUCH!
But is there some dirty deals done here. Surely more than we will not increase the offer has suddenly scared MMX & Law to resign & probably sell in the last two days.
Has the gov decision been made & we just don't know it yet. Would that indicate Sino have said take our $6.38 & we would give you a price of XXX on T/o. Then Sino would get there $135m back as they would t/o MMX.
Something funny has happened for sure. Lets hope its in our best interests. Otherwise its time for Paul's head.
MMX Price at posting:
$1.98 Sentiment: Hold Disclosure: Held