For those more experience with the legalities of this bid, what are CGNPC's options when by February extension they still don't have the 50% required.
Can they continue to extend until they achieve this goal? Can they just simply walk away? Can they increase the bid price?
From my understanding, they can't actively transact in KAH by pushing it down while the offer is under the bidding price but does that apply to EXT? Can they form a loosely third party company and actively buy EXT shares at this price? This has happened in the iron ore sector, read MGX where major shareholders that are not related on the surface are actually colluding to gain control of the company. ASIC just can't proove a direct link in that case but the sovereign parth of those companies binds them together.
EXT Price at posting:
$8.49 Sentiment: None Disclosure: Held
