IMO the problem doesn't lie with what will be uncovered through due diligence, but the board's previous rebuttal of a takeover offer last year at a much greater premium.
When you consider that some directors have increased their stake since that time, why would they change their stance now. This is further re-inforced by a solid strategy moving forward, it would appear that the Archer bid is opportunistic.
Market sentiment seems to support the notion that the board will knock the offer back again. The only options for Archer would then be to either seek a seat on the board or go hostile!
What do others think?
FUN Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
