Finally some movement after the Board rejected Somers Limited...

Finally some movement after the Board rejected Somers Limited bid.

With the Target statement suggesting a fair value some 40% higher and almost no stock going through on Somers on-market bid at 21c Somers were either going to have to walk away or bid up. Since I presume they aren't the higher bidder then someone has clearly decided its worth a play either to stiffle the bid or counter-bid.

I guess its usually true - the first bid is rarely the last...with Somers holding a large minority position already they clearly don't want to be stuck without control - lets see what control is worth for them....I think this is worth a punt.

DYOR