I think this is a joke. You end up with 38.5c in the merged company if you get 100% acceptance, and that's taking into account the 10c of "theoretical" value you get for Chalice shares.
CBH needs PEM's mill at broken hill. PEM does not need Rasp. This is a paltry offer for PEM by CBH and shouldn't, in my opinion, entice anyone to sell.
takeover redux
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