Looking at the substantial holders announcement to see that Chinese owned AOL has almost 26% of MGX and then reading the Takover Panels decision re a similar situation in 2008 at http://www.takeovers.gov.au/content/DisplayDoc.aspx?doc=reasons_for_decisions/2008/004.htm&pageID=&Year=2008 I'm wondering what is going on here.
MGX has been in a constant BOT dominated sell off since 8 April, with the SP going down 19% or so over that period. Almost twice as much as other IO companies.
Is someone accumulating at lower prices for that potential takeover or is someone doing an underhanded takeover through a number of entities?
I don't know - but the SP is still going down today with BOT activity. Maybe someone is after a portion of my $388 mil plus that is sitting in the bank with MGX.
Looking at the substantial holders announcement to see that...
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Last
43.0¢ |
Change
0.010(2.38%) |
Mkt cap ! $510.2M | |||
| Open | High | Low | Value | Volume |
| 42.0¢ | 43.0¢ | 41.8¢ | $190.4K | 450.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 121697 | 42.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 43.0¢ | 83912 | 15 |
View Market Depth
| Last trade - 11.35am 02/07/2024 (20 minute delay) ? |
| MGX (ASX) Chart |