CPB are finding it very hard going gathering shares in CCI Holdings (CHL) they have just announced they now have 11.14% up from 10% last month.....that's a pretty strong endorsement the offer of 31cps is unacceptable when you consider most of the 11% they hold are dependant on CPB being able to make a successful t/o bid. Clearly they will not be successful with this paltry 31c offer, so the only way they will get to keep the shares they have options on is to make a higher bid which will be successful. You wonder how much higher they will have to go with the board strongly holding onto over 30%, and the rest of the shareholders giving the CPB offer the clear thumbs down.
CHL Price at posting:
0.0¢ Sentiment: None Disclosure: Held
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