Tawny,
Surely there is another question as well. It doesn't look at first blush like GBE 'needed' this amount of cash. So, why is control passing for a discount to traded value??
Why not have a smaller placement, to cover RSL and other short term requirements, improve the value, raise the next cash at a higher price.
If the buyer is so keen, why wasn't the deal done at with a (normal) 20 or 30% control premium?
F111
strategic partnership & a$41m fund raising, page-39
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