I don't think so. The purchaser's shares are weak and the target's shares trade up, that's 100% normal. If the market would not like the deal, SBM would be 1.50-1.60 by now. The reasoning behind the deal is convincing, Southern Cross is approaching the end of its life and Edna May is an underground resource in the vincinity of SBM's Southern Cross operations. SBM has the know-how and capital to rapidly develop Edna May and CAH shareholders will profit from the offer and the accelerated development and production as well. It's a clear win/win to me.
there we have it. cah is the target, page-4
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Last
39.0¢ |
Change
-0.005(1.27%) |
Mkt cap ! $319.1M | |||
| Open | High | Low | Value | Volume |
| 39.5¢ | 40.0¢ | 38.5¢ | $1.463M | 3.724M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 125199 | 39.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 40.0¢ | 349194 | 23 |
View Market Depth
| Last trade - 16.10pm 16/10/2024 (20 minute delay) ? |
| SBM (ASX) Chart |