Def, We have a wonderful thing here in Australia known as the Foreign Investment Review Board (FIRB) and every takeover made by a foreign company of an Australian company must get FIRB approval. The job of the FIRB is to stop things like what you have just mentioned from happening. They just investigated the exact same situation in the HER bid. It turned out that the parties were not related and they are still in a bidding war as we speak.
Also, I dont expect the CEO to block the bid with his 7%. What I do expect is that he would not let the board recommend shareholders accept a bid that he does not feel is adequate.
Also, Jinchuan only owns around 14% of MLX from memory, so they can still acquire more shares without going over the 19.99% mark (around 70m more).
Brendo, Just chill winston!! (lol). I can understand your frustration but at the end of the day, who cares if the stock remains cheap. If you are a true long termer, fair value will eventually be realised, but you cant ever put a time frame on how long it takes a market to achieve this. You know my favourite quote;
"Markets can remain irrational longer than you can remain solvent."
You and I both know it will happen, it is just a matter of when. The next two months have got the catalysts that is for sure. Mining recommencing and feasibility study due. Lets just hope it is good news on both.
MLX Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
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